Bitcoin Falls Lower as Trump's Iran Snub Sends Oil, Yields Higher — SkimNews
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- Bitcoin fell about 1.8% over 24 hours to roughly $83,000, opening Monday at $84,455 and bottoming at $82,580 before settling near $82,933, with most top 10 cryptocurrencies cooling alongside it.
- President Trump rejected Iran's seven-day plan to end hostilities and reopen the Strait of Hormuz, pushing Brent crude back above $100 a barrel and lifting the dollar and Treasury yields — a rough combo for non-yielding assets like Bitcoin and gold.
- CME's FedWatch tool prices roughly a 64% chance of a quarter-point Fed rate hike at the October 27-28 meeting, down from 75% a few days ago but still elevated enough to cap risk appetite heading into the week's data.
- Leveraged crypto traders bore the brunt of the pullback: $478 million in 24-hour liquidations split $386.5 million long and just $87.95 million short, showing leveraged bulls got squeezed while shorts barely flinched.
- Bitcoin technicals still lean bullish: a golden cross has held since September's breakout, RSI reads 58.7, and ADX sits at 43.2, suggesting Monday's pullback looks like digestion rather than a reversal.
- Crypto derivatives ran hot despite the price drop, with open interest up 8.17% to $382.29 billion and 24-hour derivatives volume spiking 66.28% to $838.18 billion.
- The week's data calendar is stacked: JOLTS job openings Tuesday, the Fed's preferred PCE inflation gauge Wednesday, and the September jobs report Friday — all landing three weeks after the Fed's unanimous September 16 hike that lifted the benchmark to 3.75%-4%.
Why it matters: With FedWatch pricing a 64% chance of another quarter-point hike and Treasury yields climbing alongside Brent back above $100, non-yielding assets face a double headwind from geopolitics and tighter monetary policy — and the day's 4-to-1 long-to-short liquidation ratio shows leveraged bulls are the ones taking the losses.
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