Bitcoin Falls Under $83,000 on Oil Spike, Rising US Borrowing Costs

What happened

Bitcoin Magazine Bitcoin Falls Under $83,000 on Oil Spike, Rising US Borrowing Costs Bitcoin’s price has plunged — with other assets — as oil surges and the cost of borrowing increases. Over the past 24 hours, nearly $178 million in long bets on the bitcoin price have been closed, according to Coinglass.

Bitcoin Magazine Bitcoin Falls Under $83,000 on Oil Spike, Rising US Borrowing Costs The price of bitcoin is down nearly 4% as most assets experience a selloff. The largest cryptocurrency was trading for $83,062, down nearly 4% over a 24-hour period Wednesday morning in New York, after at one point dropping as low as $82,823.

Last week, the coin nearly touched as high as $87,086. mortgage rates climb for a seventh straight week to their highest level in nearly three years.