Bitcoin fell as low as $82,823 as oil prices surged and borrowing costs increased. Bitcoin traded at $83,062 on Wednesday morning in New York, down nearly 4% over 24 hours. Coinglass said nearly $178 million in long bets on bitcoin had been closed over the past 24 hours. U.S. mortgage rates rose for a seventh consecutive week to their highest level in nearly three years. However, bitcoin just recorded its best quarter in years, and analysts have said bitcoin is now in a bull market after exceeding its 365-day moving average.