Bitcoin Slips Below $83,000 as Asia Markets Sell Off

Bitcoin started the week under pressure as Asia markets sold off, pushing its price below $83,000 for the first time this month. The cryptocurrency's value sat at around $82,953 by press time, down 1.79% over the preceding 24 hours. This move extends last week's retreat from the $87,000 level and adds a fresh lower price to the mix.

The intraday breach below the lower edge of the $83,000 to $85,000 range reported late last week is a significant development for Bitcoin investors. A recovery into this range would make Monday's dip short-lived, but more trading below its lower edge could make the new price territory harder to dismiss.

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, linked to doubts over a U.S.-Iran truce that renewed inflation concerns.

U.S. spot Bitcoin ETF flows showed net inflows of $134.5 million on Friday, compared with $190.7 million the previous day. While demand had not turned into a net outflow, these figures leave Monday's order flow open for interpretation.