Bitcoin fell back below $83,000 on Monday amid elevated Treasury yields, a stronger dollar and uncertainty ahead of the U.S. midterm elections.

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