Bitcoin fell on Wednesday, coming under pressure from the sharp rise in oil prices and Treasury yields as growing expectations for higher interest rates and inflation reduced demand for high risk assets.
The world’s largest cryptocurrency dropped 1.2% to $84,288.6 after trading within a narrow range throughout October following a strong third quarter performance. Other cryptocurrencies also posted broad losses, while expectations for more flexible regulations supporting the digital asset sector in the United States failed to revive investor risk appetite.
Digital markets also lagged behind the record highs reached by Wall Street, where strong artificial intelligence stocks continued to dominate investor attention.
The decline came amid a sharp rise in oil prices during the week, which created fresh concerns across Bitcoin and other risk sensitive markets. Crude futures advanced strongly as worries increased over further supply disruptions from the Middle East, while severe weather in the Gulf of Mexico threatened U.S. production.
Higher oil prices contribute to stronger inflation pressures, which could in turn push major central banks around the world toward additional interest rate increases, a scenario that tends to weigh on cryptocurrency markets. Government bond yields rose sharply on these expectations, with the U.S. 10 year Treasury yield climbing to its highest level in 24 years.
Although yields eased slightly during the week, they remained close to their recent highs, keeping digital asset markets under pressure.
Separately, cryptocurrency exchange OKX announced the completion of a strategic investment funding round involving Circle, Cube Research, Ripple and Standard Chartered, based on a $25 billion pre money valuation. The platform did not disclose the total size of the funding round, saying the investment strengthens its alignment with leading financial infrastructure developers. The funding follows an earlier investment announced by the platform from Intercontinental Exchange.
Most altcoins also declined on Wednesday, following Bitcoin lower as the positive momentum from the third quarter and the beginning of October faded. Although October is historically associated with strong seasonality for cryptocurrencies, often referred to as Uptober, the sector is facing significant headwinds this time, similar to what occurred in October 2025.
Ethereum, the world’s second largest cryptocurrency, fell 2.8% to $2,621.66, while Ripple declined 1.4%. Cardano dropped 4.4%, Solana fell 0.7% and Binance Coin lost 1.3%. Meme coins also came under pressure, with Dogecoin falling 3.7% and Trump coin declining 5.7%.
Stay informed about global markets through our previous analyses. and Now, you can also benefit from LDN company services via the LDN Global Markets trading platform.
