Bitcoin Slides Toward $84,000 as Iran Ship Attacks Lift Oil, Treasury Yields; Altcoins Weaken

Forecast Trend Report by Period

Bitcoin fell toward $84,000 as rising oil prices and higher U.S. Treasury yields, driven by Iran's expanded attacks on ships in the Strait of Hormuz, weighed on risk appetite.

CoinDesk reported on October 7 that Bitcoin was trading around $84,200 in Asian morning hours, down about 1.5% on the day. The token had climbed to about $86,600 a day earlier before tumbling early Tuesday and briefly touching $83,840.

Major altcoins posted steeper losses. Dogecoin fell about 5% to $0.09, while Hyperliquid traded around $91, down about 4%. Ether dropped 3.5% to $2,610, and XRP fell about 3% to $1.46. BNB, Solana, Zcash and Tron also lost 1% to 2.5%.

Geopolitical uncertainty in the Middle East pressured sentiment toward risk assets. Brent crude rose about 1% to $101.50 a barrel after Iran expanded attacks on tankers passing through the Strait of Hormuz.