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Bitcoin slips near $65,500 as oil and Treasury yields rise

Bitcoin was down about 0.7% since midnight UTC as WTI futures hit $88.60 per barrel and U.S. Treasury yields climbed to multi-month highs.

Reported · Written up by our desk · Market Structure

Bitcoin fell to around $65,500, extending its pullback after rising oil prices and higher Treasury yields pressured risk assets, CoinDesk reported. The move added to weakness across major cryptocurrencies, with ether, solana, and XRP also trading lower.

CoinDesk said Bitcoin traded near $65,500 early Thursday, down about 0.7% since midnight UTC, after retreating from a Wednesday high near $66,700. The broader decline came as WTI crude futures on the NYMEX rose to $88.60 per barrel, the highest level since June 11.

The report linked the selling pressure to renewed macro uncertainty, noting the potential for higher oil prices to feed into inflation and complicate central bank rate-cut plans. It also cited bond market reaction, with the U.S. two-year Treasury yield rising to 4.31% and the 10-year yield reaching 4.66%, both at the highest levels since earlier this year.

Regulatory uncertainty also weighed on sentiment, CoinDesk reported, after key Senate Democrats criticized the latest draft of the Digital Asset Market Clarity Act. The outlet added that Axios reported the U.S. deployed a B-1 long-range bomber on Tuesday to strike targets linked to Iran’s Islamic Revolutionary Guard Corps, a development described as an apparent escalation tied to geopolitical risk.

Latest closeWTI crude $87.52 ▲3.1%|Bitcoin $65,717.19 ▼0.6%|Solana $77.48 ▼0.6%

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