Bitcoin fell below $83,000 to reach month-to-date lows as stocks reversed after all-time highs and bond yields spiked higher.
Bitcoin (BTC) fell further at Wednesday’s Wall Street open as oil prices gained on US-Iran war headlines and stocks came off all-time highs.
Data from TradingView showed BTC/USD dipping below $83,000, setting new month-to-date lows.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Mixed signals over oil traffic through the Strait of Hormuz pushed Brent crude oil to $102 per barrel on the day, while WTI crude reached $91.
An adviser to Iran’s Revolutionary Guards’ Commander quoted by Reuters on the day warned of a clampdown on traffic that it had “deemed illegal.”
“The Strait of Hormuz is closed, and the armed forces of the Islamic Republic of Iran have full control over it. This situation will continue until Iran’s legitimate demands are met,” he said.
CFDs on WTI crude oil one-hour chart. Source: Cointelegraph/TradingView
US bond yields, highly sensitive to concerns about inflation and government debt loads worldwide, reacted with new 24-year highs. The 10-year and 30-year yields reached 5.36% and 5.73%, respectively.
US 10-year bond yield one-hour chart. Source: Cointelegraph/TradingView
At the same time, US stock markets headed lower after hitting fresh all-time highs on Tuesday. The S&P 500 traded down 0.6% on the day to 7,773 points.
S&P 500 one-hour chart. Source: Cointelegraph/TradingView
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