Crypto
Home›Crypto›Market Structure›Bitcoin rises above $81,000 as Treasury yields slip an…
Bitcoin rises above $81,000 as Treasury yields slip and dollar weakens
Bitcoin climbed to about $81,200, above its 50-week moving average near $81,041, as the 10-year yield fell to 4.75% and the 2-year yield dropped to 4.33%.
Bitcoin pushed above its 50-week moving average near $81,041 and climbed to around $81,200, the highest level since mid-May, according to CoinDesk’s live market coverage. The move follows a broad shift in how investors are pricing Fed policy ahead of upcoming inflation data.
CoinDesk also linked the crypto strength to easing rate-hike concerns after Fed Governor Chris Waller indicated support for holding policy steady this month. The 10-year Treasury yield was down to 4.75% from 4.82% the prior day, while the 2-year yield fell to 4.33% after reaching 4.41% yesterday.
The report said bitcoin’s U.S. morning gains extended to more than 4%, with the token rising toward the low $80,000s. At the same time, CoinDesk cited a weaker U.S. dollar tied to a Japanese yen rally, with the DXY index down more than 0.5% and below 99.
Crypto-linked stocks moved higher alongside bitcoin, CoinDesk reported. Strategy (MSTR) gained about 10%, Bullish (BLSH) rose 9%, Robinhood (HOOD) climbed 13%, Coinbase (COIN) advanced 8%, and Circle (CRCL) was up 12% toward $100.
Latest closeBitcoin $81,906.63 ▼1.4%