Bitcoin slips to $83,000 as security fears and oil prices weigh
Bitcoin is down around 3% over seven days, now at $83,025, amid rising energy costs and reported cryptocurrency theft.
Bitcoin fell from near $87,000 last Sunday and is on track for a weekly loss, now at $83,025 by late Saturday. Rising oil prices and higher Treasury yields have pressured the market.
Reports emerged of missing cryptocurrency linked to Ledger hardware wallets sold through Southeast Asian reseller CryptoBilis, with investigators estimating losses between $86 million and $93.4 million.
Ledger has not confirmed those figures or what caused the theft. Major investors are also pulling money out.
Spot Bitcoin exchange-traded funds saw net outflows of roughly $681 million across five trading days from October 5 to 9. Bitcoin had 10 days in 2026 when its price swung at least three standard deviations from normal trading patterns.
That exceeded the eight such days in all of 2018. Markets expect the Federal Reserve to hold rates steady at its October meeting, with a possible rate rise in December.
- $83,025
- Current price
- Down 3% from near $87,000
- Weekly loss
- $86 to $93.4 million
- Ledger theft estimate
- $681 million across Oct 5-9
- ETF outflows
Why it mattersBitcoin's volatile swings and security breaches signal continued uncertainty around crypto as an investment, especially with major hardware wallets facing theft reports.
AustraliaAustralians holding Bitcoin or other cryptocurrencies may see portfolio losses if the downward pressure continues, and security concerns affect wallet choice.
✓ Claims checked against the source. checked 3 h ago
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