Bitcoin rebounds to $84K as bond yields hit multi-decade highs
Bitcoin price holds key support as yields rise and traders watch the range See why analysts still see bullish structure despite profit-taking pressure
Bitcoin recovered to around $84,000 on Tuesday after earlier losses, while holding above a support level that analysts view as important for the broader trend. The move came as US longterm bond yields briefly rose to their highest levels in more than two decades.
Market data showed Bitcoin trading in a relatively tight range after Monday’s pressure on risk assets. The selloff was linked to geopolitical uncertainty and a jump in Treasury yields, with the US 30year yield reaching 5.58% and the 10year yield climbing to 5.26% before easing slightly.
Analysts cited by the article said Bitcoin is still being supported by a key price zone, but they also noted signs of profittaking among investors. Onchain data from Glassnode suggested that realized and unrealized gains have increased, which may be limiting upward momentum in the short term.