Bitcoin falls to October low as oil and yields rise

Bitcoin fell below $84,000 on October 7 and later reached $82,700, its lowest level so far this month, as oil prices and U.S. Treasury yields rose and investors assessed renewed inflation concerns. Reports captured different points in the trading session: Bitcoin initially dipped to about $83,840 before falling further, according to price data cited in market reports. The decline unfolded as oil gained amid reports of attacks on commercial tankers and heightened concern about shipping through the Strait of Hormuz. Brent crude rose above $101 a barrel, while U.S. crude also advanced. The supplied reports described conflicting developments and warnings concerning the waterway; the full details of the underlying events were not independently established in the reports. U.S. Treasury yields climbed, with the 10-year yield reported at levels above 5.3%, as traders weighed the possibility that higher energy costs could keep inflation elevated. The dollar also strengthened, adding to pressure on risk-sensitive assets. U.S. stocks retreated after reaching record highs the previous day, while Asian shares also weakened. The market move came despite a return to net inflows for U.S.