Bitcoin fell under $83,000 on Wednesday morning in New York, losing nearly 4% over a 24-hour period after nearly touching $87,086 last week. This decline coincides with U.S. mortgage rates climbing for a seventh consecutive week and a surge in crude oil prices, with Brent crude jumping above $102 per barrel following Iranian attacks on vessels in the Strait of Hormuz. Nearly $178 million in long bets on bitcoin were liquidated in 24 hours, according to Coinglass. Gold, silver, and stocks also declined amid fears of further interest rate hikes by the Federal Reserve.
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