Bitcoin holds near $84,300 as US Treasury yields stay elevated
Image: CointelegraphBitcoin traded near $84,300 as US Treasury yields stayed elevated. One report said BTC/USD was below that level and held support at $82,500. Another said BTC traded at $84,624, up 0.9% in 24 hours, after topping $85,000 on cooler PCE inflation data. The 10-year Treasury yield reached a multi-decade high, with reports citing 5.26% and 5.342%. The 30-year yield hit 5.58%, its highest since June 2002. The US Treasury bought back $6 billion of long-term bonds.
Key points
- The 10-year Treasury yield reached a multi-decade high.
- Bitcoin faced pressure from high yields and macroeconomic uncertainty.
- PCE inflation data was a focus for markets.
Why it matters
High Treasury yields coincided with Bitcoin struggling to hold gains around the reported $84,300 and $84,624 levels. The US Treasury bought back $6 billion of long-term bonds, and PCE inflation data remained a focus for markets.
What's unclear
The 10-year Treasury yield is reported at 5.26% and 5.342%, with last comparable highs cited as June 2007 and April 2002.
One report describes PCE inflation data as upcoming, while the other says cooler PCE data had already been released.
Price context · BTC
At publication
$84,710.00
Now
$85,215.00
Change since
+0.60%
7 days · dashed line = publication
Sources · 2 publishers
Cointelegraph
Tier 1
Bitcoin fights for local uptrend as US bond yields drop from new 24-year highs
BeInCrypto
Tier 2
US Treasury Buys $6 Billion of Bonds as Bitcoin Battles 24-Year-High Yields
Coverage timeline
- First reported by Cointelegraph
- Confirmed by BeInCrypto
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
FORM
+1.5%
