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Bitcoin holds near $77,000 as bond rout and oil risks test post-rally support

Global BTC ETPs logged their strongest monthly inflows since November 2024, even as derivatives open interest edged down to near four-month lows.

Reported · Written up by our desk · Market Structure

Bitcoin was trading near $77,000 on Wednesday, with the market weighing a fresh selloff across global bond markets after a sharp August rally. The Block reported that Japan’s 10-year government bond yield stayed above 3% for a second straight session, after first clearing that level since 1996 on Tuesday, while U.S. and European yields also moved higher.

Renewed U.S.-Iran tensions added to the macro pressure, lifting Brent crude to above $95 on concerns about potential energy supply disruption. Despite bitcoin’s pullback from a local high, its decline appeared limited so far, according to The Block.

Market commentary cited by The Block said bitcoin’s performance relative to equities and other risk-sensitive assets looked “encouraging,” framing crypto’s relative steadiness as resilience amid a tougher global backdrop. The report also noted bitcoin jumped 23% a bit more than a week earlier and has since traded between $76,800 and $81,600.

On positioning, The Block cited K33 research showing futures and perpetual open interest at $38.6 billion, down 1.8% over the prior week, and perpetual open interest still near four-month lows. Funding rates remained neutral, and the outlet said global BTC ETPs recorded their strongest monthly inflows since November 2024, alongside activity in $80,000 September call options.

Latest closeWTI crude $90.70 ▲0.5%|Brent $95.32 ▲0.7%|Bitcoin $77,563.82 ▲0.2%

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