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Bitcoin Falls to $83,178 as Oil Spikes and Yields Climb

10/7/2026

Bitcoin traded at $83,178.54 after opening at $85,543.66 and sliding to a low of $82,776.30, a 3.2% drop that liquidated approximately $969 million in crypto positions over the past 24 hours.

CoinGlass reported that $644.47 million of those liquidations were long positions.

The decline coincided with broader market stress as Brent crude returned above $101 a barrel and the 10-year Treasury yield approached 5.34%.

Al Jazeera reported that UK Maritime Trade Operations logged at least one ship attack per day in the Strait of Hormuz or Gulf of Aden since October 2.