Bitcoin sees volatile monthly close as U.S. bond yields approach 20-year highs

Bitcoin traded near $78,000 at the U.S. market open on Monday as Treasury yields moved back toward multidecade highs. The price action was choppy, with the asset fluctuating inside a narrow range during the session. The move followed comments from U.S. Treasury Secretary Scott Bessent in a CNBC interview, where he said the Treasury had not yet taken steps to support the long end of the yield curve. He also said he was comfortable with yields rebounding after the recent announcement of expanded debt buybacks. Market data showed the U.S. 10year yield at its highest level since January 2025, while the 30year yield climbed to 5.269%, close to its strongest level since 2007. Analysts said bond markets appeared to be paying little attention to the Treasury’s actions. The article also noted a cautious technical setup for Bitcoin ahead of the monthly close. Traders pointed to a possible bearish divergence in the daily RSI, even as the weekly chart continued to show some bullish signals. Bitcoin remained above its 50week exponential moving average, a level some analysts view as important support.