Bitcoin fell below $83,000 as rising Treasury yields and a hawkish Federal Reserve pressured risk assets, even as more than 13,800 BTC left Binance in its largest single-day outflow since 2023. Options data shows traders aren't yet bracing for a deeper sell-off.
Bitcoin fell 2.73% to around $82,674, dropping below $83,000 after Binance recorded its biggest single-day Bitcoin outflow since 2023. More than 13,800 BTC worth around $1.16 billion left the exchange in a single day, and Binance's reserves dropped from around 705,000 BTC to 685,000 BTC in four days.
Treasury Yields and a Hawkish Fed Weigh on Sentiment
The pullback lined up with the US 10-year Treasury yield pushing past 5% for the first time since 2007, according to Crypto Briefing. A Federal Reserve that shows no sign of pivoting, plus a stronger dollar, added to the pressure, and Bitcoin slid as much as 2.2% intraday to roughly $82,702 on the same day.
Geopolitical tension compounded the move. President Donald Trump rejected Iran's proposed seven-day regional ceasefire, Coinpedia reported. The sell-off also triggered a leverage flush: Bitcoin liquidations reached $90.07 million, with long positions accounting for $78.06 million, while total crypto liquidations hit $380.49 million across 122,766 traders.
ETF Demand Offsets Some of the Selling
Despite the drop, US spot Bitcoin ETFs recorded net inflows exceeding $2.39 billion for the week ending September 25, the largest weekly inflow of 2026, Crypto Briefing reported. Institutional demand appears to have absorbed selling pressure that might otherwise have pushed prices lower.
Options Traders Aren't Bracing for a Crash
Options data suggests traders aren't panicking yet. According to CoinDesk, downside puts haven't gotten dramatically pricier than calls, a shift that data firm Laeviats calls skew reversion rather than a rush for crash protection. Still, 10x Research flagged rising put demand, noting: "Put demand has jumped over the past few days."
Key Support Levels in Focus
Chart analyst Ali Martinez says Bitcoin could be retesting the $82,000 neckline of a double-bottom pattern that points toward a $100,000 target, Coinpedia reported. If that level fails, the next support sits at $79,688, near the 61.8% Fibonacci level, with a deeper break potentially opening the way toward the 200-day moving average near $71,070.
Sources: Coinpedia Fintech News, Crypto Briefing, CoinDesk
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