Bitcoin, Ethereum, XRP, Dogecoin Tumble as Treasury Yields Hit New Highs: Analyst Flags 'Phenomenal Entry Opportunity' in BTC (UPDATED)

Editor’s Note: This article has been corrected to refer to the 30-year Treasury bond’s yield rather than its return. Leading cryptocurrencies tanked on Wednesday after the Federal Reserve’s hawkish meeting minutes drove Treasury yields higher. Cryptocurrency24-Hour Gains +/-Price (Recorded at 9:26 p.m. EDT)Bitcoin (CRYPTO: BTC)-2.60%$83,174Ethereum (CRYPTO: ETH) -4.20%$2,576.32XRP (CRYPTO: XRP) -4.80%$1.42Solana (CRYPTO: SOL) -3.20%$116.31Dogecoin (CRYPTO: DOGE) -4.80%$0.08918 Crypto Market in Red Bitcoin sank below $83,000, while Ethereum lost its $2,600 support amid broader cryptocurrency sell-offs. Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 6.79% and 5.90%, respectively. Cryptocurrency liquidations surged over $700 million over the last 24 hours, with $646 million in bullish long positions alone wiped out, according to Coinglass data. Bitcoin’s open interest dipped 1.60% over the last 24 hours. Binance derivatives traders, including both retail and whales, increased their long exposure to the apex cryptocurrency. Top Gainers (24 Hours) CryptocurrencyGains +/-Price (Recorded at 9:26 p.m. EDT)Raydium (RAY) +12.70% $2.43Bitway (BTW) +11.60% $1.36NEAR Protocol (NEAR) +5.40% $5.37 Read Also: https://www.benzinga.com/crypto/cryptocurrency/26/10/62216088/robinhood-joins-strategy-tesla-in-holding-bitcoin-exec-says-we-care-deeply-about-bitcoin Stocks Correct After Fed Signals Hawkish Outlook Stocks descended from record highs on Wednesday. The Dow Jones Industrial Average retreated 341.41 points, or 0.66%, to close at 51,179.87. The S&P 500 slipped 0.22% to end at 7,801.77. The tech-focused Nasdaq Composite fell 1.32% to end at 27,538.69. Minutes of the September meeting showed the Fed united on raising rates and leaning toward another hike by year-end. Traders currently assign only an 18% probability to a rate hike at the central bank’s October meeting, but more than a 66% probability to a hike at the December meeting, according to the CME FedWatch tool. The 10-year Treasury yield rose to 5.36%, its highest since April 2002. Yields on the 30-year Treasury bonds jumped to 5.73% Bitcoin Bulls to Return? Ali Martinez, a widely followed cryptocurrency analyst and trader, noticed a “Buy Signal” on Bitcoin’s hourly chart at the $83,000 support level using the TD Sequential indicator. “The correction over the past 24 hours was preceded by a sell signal from the same indicator,” Martinez said. “Now, with the TD Sequential flipping bullish at support, I’m watching closely for a potential BTC rebound.” The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns. Source: X Michaël van de Poppe, another popular cryptocurrency commentator, predicted a “larger form” of Bitcoin correction involving a downside sweep of long-side liquidity followed by a reversal. Phenomenal entry opportunity,” he added. #Bitcoin looks to be that we're going to be seeing a larger form of correction.That means, we'll probably take the long side liquidity and reverse after that.Phenomenal entry opportunity. pic.twitter.com/WezHPIOHxg— Michaël van de Poppe (@CryptoMichNL) October 7, 2026 Read Also: Bitcoin's Rally Ran on Thin Volume: Is a Cascade to $81,000 Next? Photo Courtesy: vinnstock on Shutterstock.com