Oct 7: Bitcoin Drops Back to $83K

Bitcoin dropped from roughly $86K to $87K back toward $83K in a matter of minutes as Brent crude climbed above $100, Treasury yields moved higher, the dollar strengthened and leveraged long positions were liquidated. Crypto liquidations reached roughly $550 million over 24 hours, while Bitcoin ETF flows were nearly flat. Bitcoin is once again testing the lower end of the range we've been watching, with roughly $82K to $83K acting as support, while the Federal Reserve's September meeting minutes arrive today amid continuing uncertainty over whether policymakers will raise rates again this year.

Robinhood has added $25 million in Bitcoin...