Bitcoin fell about 1.5% to just above $84,200 as of Wednesday Asian morning hours as oil climbed on stepped-up Iranian attacks on tankers in the Strait of Hormuz, lifting Treasury yields and the dollar.
DOGE led the losses among the majors, sliding 5% to about 9 cents. HYPE dropped nearly 4% to about $91, and ether lost 3.5% to about $2,610. XRP fell nearly 3% to about $1.46, while BNB, SOL, ZEC and TRX each slipped between 1% and 2.5%, according to CoinDesk data.
Bitcoin traded near $86,600 on Tuesday before a sharp drop early Wednesday took it as low as about $83,840 — below the $84,000 level that FxPro said on Tuesday would signal "a victory for the bears."
Minutes from the Fed's September meeting, when it raised rates by a quarter point, come out later Wednesday. Weaker jobs data made "another rate increase this month look less likely after September's quarter-point hike," Dan Khus, chief analyst at LVRG Research, said in an email to CoinDesk.
"The market had already priced in that hike, so traders are now looking at whether the notes sound patient or still point to one more increase before the end of the year," he added.
Oil set the tone in Asia. Brent rose almost 1% to about $101.50 a barrel after Iran picked up the pace of its attacks on tankers in recent days. The dollar strengthened against every other Group-of-10 currency, and the 10-year Treasury yield climbed three basis points to 5.31%.
Asian stocks fell even after record closes for the S&P 500 and Nasdaq 100 on Wall Street.
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