Bitcoin fell to $83,000 on Monday, down 1.7% since midnight UTC and 2.1% over 24 hours, in a selloff where the big token mostly held together while smaller ones fell apart, CoinDesk reported. Ninety-one of the 100 constituents of the CoinDesk 100 index finished lower, and the index itself dropped 2.6% to 1,874.56.
The shape of the unwind was almost a mirror image of Friday’s session. Quant (QNT) fell 16% since midnight after surging 39% in 24 hours on Friday. The Graph (GRT) dropped 12% after gaining 14%, and Ondo (ONDO) was down 12% on the day. The sector indexes that led Friday’s advance led Monday’s retreat, with the DeFi Select Index down 6.4% and the CoinDesk Computing Index off 3.2%.
The trigger came from oil, not crypto. President Trump rejected Iran’s latest terms for reopening the Strait of Hormuz, conditions that included the release of frozen Iranian funds, the lifting of oil sanctions, and an end to the U.S. naval blockade of Iranian ports, according to CoinDesk. Brent crude climbed back above $100 to $100.83, up 3.2% on the day. Traditional safe havens sold off alongside crypto, with gold down 3.3% to $4,144 an ounce and silver off 5.1% to $61.00, while the dollar index firmed to 101.09.
The futures market tells a story of traders standing aside. Open interest, the number of active leveraged bets, stood at 652,000 BTC, one of its lowest readings this year after peaking at 800,000 early in the year, according to Coinglass data cited by CoinDesk. Perpetual funding rates flipped negative again, averaging minus 0.3% across major exchanges, which means short sellers are willing to pay to keep bearish bets open, a sign of fragile sentiment.
There is a bigger picture that softens the day’s gloom. Bitcoin is still more than $20,000 above its summer cycle low and remains the best-performing major asset of the third quarter. U.S. spot Bitcoin ETFs pulled in roughly $2.4 billion in the week ending September 25, their strongest weekly inflow since October 2025, Coinstats reported.
The security backdrop is tense, though. The estimated damage from the Bitget exchange breach has risen to about $387.5 million in unauthorized transfers from parts of the exchange’s wallet infrastructure, with customer balances and cold-storage wallets unaffected, according to Coinstats. Bitget has scheduled a phased withdrawal restart beginning today, with Bitcoin withdrawals due to reopen at 08:00 UTC and Ethereum and other EVM networks on September 29.
What to watch: whether Bitcoin can hold the low-$83,000 area and whether ETF inflows keep absorbing selling pressure, with core PCE inflation data Wednesday and the September jobs report Friday likely to set the tone for risk assets across the board.
