Bitcoin briefly fell below $82,300, while the situation in Iran pushed oil prices above $102, weighing on market risk appetite.

BlockBeats news, October 8 — Bitcoin briefly fell below $82,300, then rebounded to near the $82,500 mark, down 1.94% over 24 hours, breaking below the recent key support level of $83,000. FxPro previously said that if BTC effectively breaks below $83,000, sellers may regain control of the market, and the price could quickly probe down to around $80,000.

The decline coincided with rising macroeconomic risks. Reports said the White House has asked the Pentagon to draw up plans for military strikes against Iran, news that pushed Brent crude up about 2% to back above $102 per barrel; the U.S. 10-year Treasury yield rose to 5.31%, near its highest since 2002, further weighing on risk assets.

Major crypto assets broadly weakened, with XRP falling nearly 4% to $1.42, DOGE down about 3%, ETH down about 3% to $2,570, and both HYPE and SOL down more than 2%. A day earlier, about $550 million in leveraged positions were liquidated in the crypto market, most of them long positions.

Bitcoin's recent two consecutive down trading days were both accompanied by rising oil prices and higher U.S. Treasury yields. If Brent crude falls back below $100, it could ease some of the current pressure on risk assets.