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Bitcoin stays above $64,000 as Treasury yields and Brent rise
The 30-year Treasury yield climbed to 5.33% for the highest level since 2007, while Brent crude pushed above $91 a barrel amid escalating US-Iran tensions.
Bitcoin was trading near $64,100 on Tuesday, up about 1% on the day and holding above $64,000 as higher bond yields and rising oil prices weighed on overall risk appetite, according to CoinDesk data.
Ether was near $1,893, while most major cryptocurrencies were flat. Hyperliquid was the week's outlier, up 8.3%.
The pressure cited for crypto came from macro moves, including the 30-year Treasury yield rising to 5.33%, its highest level since 2007. CoinDesk also pointed to Brent crude topping $91 per barrel as the US-Iran conflict escalated.
CoinDesk noted that Bitcoin has remained relatively firm even as long-dated yields climbed and S&P 500 futures fell 0.5%, with stocks headed for a third straight day of losses. The outlet linked the dynamic to how crypto moves with broader risk conditions, despite Bitcoin being in a supporting range for now.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|Bitcoin $64,093.21 ▼0.6%