Bitcoin slipped below $83,000 on Thursday, falling 1.6% to just under $82,800. The move breached a level that analysts had flagged as a potential trigger for further declines toward $80,000.

The price drop coincided with a rally in oil markets. Brent crude rose 2% to above $102 per barrel after reports that the White House had asked the Pentagon to prepare strike options against Iran. The development added to supply concerns already heightened by a storm disrupting U.S. production and Houthi attacks on Saudi airports that resulted in three fatalities.

Higher oil prices pushed the 10-year U.S. Treasury yield up two basis points to 5.31%, its highest level since 2002. Rising yields and commodity prices weighed on risk assets, including equities and digital currencies. Wall Street indices retreated from recent records, and Asian markets followed with a 1% decline.

Cryptocurrency liquidations amplified the sell-off. CoinGlass reported that approximately $550 million in leveraged crypto positions were liquidated in the past 24 hours, with the majority tied to long bets on price increases. XRP led the declines among major tokens, dropping nearly 4% to $1.42. Dogecoin fell 3% to below 9 cents, and ether slipped 3% to around $2,570. HYPE and SOL each declined by more than 2%, while ZEC edged down less than 1%. BNB and TRX were the only major cryptocurrencies to post gains, each rising marginally.

The $83,000 threshold had been identified by FxPro as a technical inflection point. A sustained break below that level, according to the firm, could accelerate downward momentum toward $80,000. The current dip marks the latest instance in which Bitcoin’s price movement has mirrored broader macroeconomic shifts in energy and bond markets.

Separate coverage from CoinDesk’s ongoing series examines the evolving regulatory environment for stablecoins in the Asia-Pacific region, highlighting how jurisdictions are adapting frameworks to accommodate digital asset integration in formal financial systems.