Bitcoin hovers under $86k as traders parse positive CFTC move against bond rout

Bitcoin found itself slightly up on Monday, at $85,953.1, despite a sharp rise in U.S. Treasury bond yields. The 10-year yield climbed 2.8 basis points to 5.308%, driven by worries over inflation, soaring corporate debt, and hawkish monetary policies. These concerns spilled over to other fixed-income markets, causing unrest, particularly in France, where the 10-year yield hit a record high since July 2002 amid the release of the country's 2027 budget bill.

Meanwhile, the Commodity Futures Trading Commission (CFTC) opened a 50-day comment period to establish rules for leveraged digital asset transactions targeting retail investors. Chairman Michael Selig emphasized the need for consumer protection and regulatory clarity in the crypto asset markets. On a positive note, OKX-ICE, a joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange, announced plans to launch a tokenized securities trading venue under the SEC's innovation exemption.

The platform will offer permissioned on-chain trading of tokenized U.S. stocks, covering over 60 U.S.-listed companies. Meanwhile, Bitcoin treasury company Strategy increased its holdings by purchasing an additional 334 bitcoins, valued at $28.7 million, bringing its total holdings to 848,000 bitcoins, worth approximately $73 billion.