Bitcoin Drops Below $83K as Crypto Market Sheds $110B in 36 Hours
- —Market cap fell from $2.92T to $2.81T, erasing roughly $110 billion in 36 hours
- —BTC hit $82,200, a 17-day low and about 4% below Tuesday's local high
- —Futures open interest dropped 1% to $150 billion; liquidations eased to $400 million from $548 million
- —30-year Treasury yield rose to 5.71% and 10-year to 5.32% ahead of a $22 billion long-bond auction
Why it matters: Falling open interest and rising put demand show traders are de-risking ahead of the October 14 CPI print and the Fed's October 28 decision.
Source: Crypto Economy