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Bitcoin hovers near $84,000 as Treasury yields stay near highs
The 10-year Treasury yield peaked at 5.274% on Monday, while Brent moved above $100 a barrel before falling back below $104.
Bitcoin traded around $84,000 on Tuesday, up 0.9% over the prior 24 hours but down 2% for the week, holding within a two-week range as other assets moved around it, Decrypt said, citing CoinGecko data.
The crypto pressure is coming from outside the market, with Treasury yields near multi-year highs, the outlet reported. The 10-year note peaked at 5.274% on Monday, its highest level since June 2007, and the 30-year reached 5.583%, last seen in 2002, though both eased slightly on Tuesday as crude turned lower.
Oil dynamics were linked to broader moves in yields, according to Decrypt. Brent returned above $100 a barrel on Monday after President Donald Trump rejected Iran’s seven-day plan, then fell back below $104 after topping $108, with indirect US and Iranian contacts through Qatar and Saudi Arabia restoring about half the flows through an East-West pipeline.
Gold also weighed on non-yielding assets, the report added, as it fell to a seven-week low.
Latest closeGold $4,157.80 ▲0.4%|WTI crude $91.10 ▲3.2%|Brent $103.93 ▲3.7%