Live updates: Bitcoin holds $64,000 as surging yields and oil drain risk appetite
The 30-year Treasury yield hit its highest since 2007 and Brent topped $91 as the US-Iran conflict escalates, pressuring stocks. Bitcoin is holding its range, for now.
Bitcoin prices held steady near $64,000 on Tuesday, despite rising bond yields and climbing oil prices dampening risk appetite, according to CoinDesk data. Ether remained around $1,893, while other major cryptocurrencies were flat. Hyperliquid saw the week's biggest gain, rising 8.3%. The pressure on crypto stemmed from soaring bond yields and surging oil prices.
The 30-year Treasury yield climbed to 5.33%, its highest since 2007, as investors sought more to finance governments and combat inflation concerns. Long-term yields increased globally, and S&P 500 futures slipped 0.5%, marking a third consecutive day of losses. Brent crude oil prices reached $91 a barrel as tensions between the US and Iran intensified.
This combination of macro factors has been a headwind for crypto all summer, now intensifying. Higher oil prices contribute to inflation, which in turn raises yields, pulling money out of risk assets and increasing expectations of sustained tight monetary policy. Bitcoin, trading in the same risk complex as other assets, is still holding its ground, up 1% for the day and overall for the week.
Investors are watching to see if Bitcoin can maintain this divergence from the broader market. If Bitcoin breaks above $64,500, it could signal that fresh buyers are absorbing the macro pressures. Conversely, if oil pushes toward $100 and yields rise further, it could test Bitcoin's resilience. Zcash's upcoming Tachyon upgrade aims to enhance shielded payments, improve quantum readiness, and test its funding, security, and governance.
Written by urgent.news from CoinDesk's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
