Bitcoin fell below $84,000, pressured by rising oil prices and Treasury yields

Bitcoin fell on Wednesday amid soaring oil prices and higher U.S. Treasury yields. Investors have become significantly less interested in speculative assets as concerns over rising interest rates and rising inflation mount.
Bitcoin, the world's largest cryptocurrency, fell 2.3% to $83,970.6, quoted at 5:19 a.m. Eastern Time (17:19 Beijing time). After a strong performance in the third quarter of this year, Bitcoin showed an overall range-bound trend in October.
The broader cryptocurrency market was also lower. Although the market has expectations for more cryptocurrency-friendly regulatory policies in the United States, this expectation has failed to effectively boost risk appetite.
Cryptocurrency markets have also lagged far behind Wall Street's all-time highs, with investors focusing on outperforming artificial intelligence stocks.