Bitcoin Below $83K as Oil and Yields Rise

Bitcoin dipped below $83,000 to start the week in Asia markets, extending last week's retreat from near $87,000. BTC price sits around $82,953 at press time, down 1.79% over the preceding 24 hours.

The intraday breach adds a fresh lower price to last week's retreat. CryptoSlate's Friday market analysis discussed Bitcoin's battle between roughly $83,000 and $85,000 after pulling back from near $87,000. A price around $83,400 would still have sat inside Friday's reported band.

Early Monday trading took Bitcoin below its lower edge of the range. The wider market began Monday under pressure from oil and bonds, with Brent crude futures rising 1.6% to $106 a barrel and the yield on 30-year U.S. Treasuries edging up to about 5.51%. Asian shares made a cautious start.

U.S. spot Bitcoin ETF flows give a narrower view of demand. Farside Investors' live table showed $134.5 million in net inflows for Friday, Sept. 25, compared with $190.7 million on Thursday when checked Monday. Both readings were positive, even as the daily amount declined.