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Morning Edition · Wednesday, October 7, 2026Published at 1:31 AM EDT · New York
Bitcoin drops below $84,000 as Iranian tanker attacks push oil, the dollar and Treasury yields higher
About $360 million of leveraged long positions were liquidated in ten minutes. A services-prices index that rose to 74.0 in September has reduced the likelihood of Federal Reserve rate cuts.
Bitcoin briefly fell below $84,000, the level analysts had identified as a threshold for further selling. Oil and the dollar both rose after Iran increased its attacks on tankers. About $360 million in crypto long positions were liquidated…
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Part of a tracked trend
Inflation Reacceleration Reopens the Hiking Cycle
US core inflation prints keep coming in above consensus, forcing markets to price renewed Fed tightening rather than the cuts that underpinned 2025 risk-asset positioning, so each upside CPI surprise repeats the same transmission — higher front-end rates, a firmer dollar, and compressed multiples on long-duration and leveraged assets.
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