--- title: "Bitcoin Drops Below $83,000, Ethereum Down 1%, XRP, Dogecoin Plunge 3%" type: "News" locale: "en" url: "https://longbridge.com/en/news/301616502.md" description: "Bitcoin dropped below $83,000 on Monday, pressured by high Treasury yields, a stronger dollar, and uncertainty surrounding U.S. midterm elections. Ethereum fell 1%, while XRP and Dogecoin plunged 3%. Coinglass data reported $302.44 million in trader liquidations over 24 hours. Industry experts cited elevated yields as major headwinds, suggesting further consolidation before any potential rally." datetime: "2026-10-12T18:00:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/301616502.md) - [en](https://longbridge.com/en/news/301616502.md) - [zh-HK](https://longbridge.com/zh-HK/news/301616502.md) generator: "portal-rs" --- # Bitcoin Drops Below $83,000, Ethereum Down 1%, XRP, Dogecoin Plunge 3% Bitcoin fell back below $83,000 on Monday amid elevated Treasury yields, a stronger dollar and uncertainty ahead of the U.S. midterm elections. **Cryptocurrency** **Ticker** **Price** **Bitcoin** (CRYPTO: BTC) $82,418.78 **Ethereum** (CRYPTO: ETH) $2,506.36 **Solana** (CRYPTO: SOL) $107.45 **XRP** (CRYPTO: XRP) $1.36 **Dogecoin** (CRYPTO: DOGE) $0.08468 **Shiba Inu** (CRYPTO: SHIB) $0.055317 **Notable Statistics:** - Coinglass data shows 88,688 traders were liquidated in the past 24 hours for $302.44 million.        - SoSoValue data shows net inflows of $21.13 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $56.1 million. - In the past 24 hours, top losers include Starknet, Cosmos Hub and Aptos. **Notable Developments:** - Ripple Faces Criticism Over $250,000 Reward for Finding Critical XRP Flaw - Ethereum, XRP Could Drop Another 10% Before Real Relief, Trader Warns - Can the Midterms Trigger a Bitcoin Rally? 3 Factors Suggest Yes - Standard Chartered Launches RLUSD Custody as XRP Ledger Activity Surges - Peter Schiff ‘Surprised’ by Bitcoin’s Resilience but Expects New Lows - Bitcoin Will Hit $1M ‘Much Quicker’ Than Anticipated, Binance Founder Predicts - Bitmine Buys 12,532 More ETH as Tom Lee’s Buying ‘Stop’ Draws Closer - Strategy Adds 250 Bitcoin: Can MSTR Break Through $160? **Trader Notes:** On Scott Melker’s podcast , industry veterans **Andy Constan, Dave Weisberger** and **Mike McGlone** highlighted Bitcoin’s repeated failure to break above $86,000 to $87,000, suggesting further consolidation before a potential rally. McGlone warned that elevated Treasury yields and a strong dollar remain major headwinds for Bitcoin and other non-yielding assets. Constan argued that Treasury Secretary **Scott Bessent’s** efforts to contain long-term yields through bond buybacks and reduced long-term debt issuance could boost asset prices but fuel inflation. He expects Bitcoin to trade sideways rather than stage an immediate explosive 10x rally as it evolves into a reliable store of value. The panel also cited prediction markets pricing a 61% chance of a Democratic sweep of Congress, warning that Republican losses could complicate Trump’s crypto agenda and increase political gridlock. *Image: Shutterstock* **Read Also: Will Bitcoin Hit $500,000 by 2030? 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