Bitcoin Holds $64K as Treasury Yields Hit 2007 High, Oil Surges
In brief
- Bitcoin traded near $64,100, up 1% despite macro headwinds
- 30-year Treasury yield hit 5.33%, highest since 2007; Brent crude topped $91
- S&P 500 futures fell 0.5% for third straight day of losses
- Rising yields and oil prices drain risk appetite across global markets
- Bitcoin gains this week while equities decline third consecutive session
Macro headwinds sharpen
Rising bond yields and climbing oil drained appetite for risk assets globally on Tuesday. The mechanism is straightforward: higher oil feeds inflation, higher inflation lifts yields, and rising borrowing costs pull money out of risk assets. Long-dated Treasury yields climbed worldwide as investors repriced expectations for growth and central bank policy.
The geopolitical backdrop sharpened the sell-off. Trump threatened to bomb Oman if it interferes with US operations in the region, escalating the US-Iran conflict and pushing crude higher. That combination is the macro headwind that has capped crypto all summer, now sharpening.
Bitcoin's relative firmness
What stands out is that Bitcoin is holding anyway. Ether held near $1,893, while Bitcoin is up on the day and green on the week while stocks fall for a third session. That relative firmness fits the narrative of returning ETF demand rather than fighting the broader macro squeeze. Hyperliquid was up 8.3% for the week, the week's outlier.
"What stands out is that bitcoin is holding anyway. It's up on the day and green on the week while stocks fall for a third session and yields hit generational highs, the kind of relative firmness that fits the returning-ETF-demand thread rather than fighting it." — CoinDesk
