Bitcoin slips from $80K as gold cools with falling US bond yields

Bitcoin struggled to regain its $80,000 mark as investors turned their attention to falling US bond yields and a cooling market in gold. The digital currency fell below $80,000 at the start of Tuesday's trading on Wall Street, as both crypto and gold gave way to the rise in US equities. Bitcoin dipped as low as $78,111 on the Bitstamp exchange, after previously reaching a new 14-week high of $81,265.

Meanwhile, gold's local low against the US dollar was recorded at $4,605 per ounce, marking a nearly 2% decline in value on the same day. US stocks, in contrast, moved inversely to gold and crypto last week, facing pressure as both rallied. Despite the brewing trade-tariff dispute between the US and Canada, the comparative strength of assets had little impact on the situation.

US President Donald Trump accused Canada of "ripping off" the United States, pledging that the country shouldn't lose more than $60 billion annually with Canada. US government bond yields continued to fall, with the 30-year yield dropping below 5.2% and touching its lowest levels in over a year. However, trading experts suggest that the Fed cannot cut rates in the current inflation environment, and therefore, bond market interventions could be the only solution to drive interest rates and yields lower in the short run.