Bitcoin hits $81K as US bond yields rebound on global oil woes

Bitcoin (BTC) surged past $80,000 at the opening of Friday’s Wall Street session, reaching a local high of $81,034 on Bitstamp. The rally coincided with a rebound in U.S. 30‑year Treasury yields and renewed concerns over global oil supply.

Market drivers

US 30‑year Treasury yields climbed to 5.34%, up 90 basis points, as investors reacted to uncertainty in the oil market. WTI crude oil prices fell to $94.8 per barrel before climbing back toward $98 during Asian trading hours.

Short‑position liquidations

Data from CoinGlass indicated that short positions across cryptocurrencies were liquidated by roughly $250 million within a four‑hour window as Bitcoin’s price rose.

Oil supply concerns

The International Energy Agency (IEA) warned that constrained Gulf oil supplies could persist, noting that flows through the Strait of Hormuz were 13.1 million barrels per day below pre‑conflict levels in August. The agency highlighted the potential need for demand reductions if inventory buffers continue to shrink.

Technical outlook

Analyst Rekt Capital described the move as a “moment of truth” for bulls, pointing to $82,000 as a key breakout level. Glassnode reported that Bitcoin’s price reclaimed its True Market Mean of $76,660 and sits above the corporate treasury cost basis of $80,500, suggesting a shift back into a bullish regime.

Key resistance

Failure to break above $82,000 could create a double‑rejection pattern, echoing price action that halted the mid‑May rebound.