Bitcoin Trades Near $83,000 as Crypto Market Retreats

Bitcoin fell below $84,000 and traded near $83,000 on September 28 and 29 as rising oil prices, higher U.S. Treasury yields and broader risk aversion weighed on cryptocurrencies. The decline followed a weekend rally in parts of the altcoin market, which reversed as most digital assets fell. Bitcoin was around $83,050 in Asian trading on Monday and just above $83,100 on Tuesday, according to market-price reports. The snapshots reflect different reporting times. The total cryptocurrency market capitalization was reported near $2.86 trillion on both days, while Monday’s decline erased roughly $70 billion from the market, according to one estimate. Losses extended across major tokens, though performance varied. On Monday, Ether, BNB, XRP and Zcash weakened, while Quant and Hedera were among the few major tokens to rise. Another market snapshot on Tuesday showed Zcash among the steepest decliners, while Ether and TRX were largely unchanged. These differences reflect separate trading snapshots, rather than a uniform move across every cryptocurrency. Oil and bond markets formed part of the backdrop.