Bitcoin stabilises near $83K as ZEC slides and oil prices rebound

Bitcoin has pulled back to $83,000, testing the lower boundary of last week’s consolidation range, according to Alex Kuptsikevich, chief market analyst at FxPro. He noted that a retest of the $82,000 level—where peaks were recorded in May and early September—is plausible under current market conditions.

Looking ahead, a sustained break below $80,000 would signal that the market may not be ready for further upside in the near term. Conversely, if the current consolidation transitions into a new bullish trend, the leading cryptocurrency could surge past $90,000.

The pressure on Bitcoin stems from bond and oil markets. U.S. Treasuries stabilised in Asian trading after earlier declines, with the 10‑year yield edging up one basis point to 5.25 %—the highest level since 2007. Higher yields raise the opportunity cost of holding non‑income‑producing assets such as Bitcoin.

Brent crude rose more than 1 % to around $107 a barrel, marking its second consecutive gain. The price increase follows fading hopes for an imminent diplomatic resolution with Iran.

Higher oil prices contribute to inflationary pressures, prompting traders to increase bets on additional Federal Reserve rate hikes. Meanwhile, MSCI’s All Country World Index fell to its lowest level since Sept. 18, and Nasdaq‑100 futures slipped 0.3 % after Monday’s technology‑driven sell‑off on Wall Street.

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