Bitcoin drops below $80,000 as gold retreats and US 30‑year yields fall

Bitcoin (BTC) fell below the $80,000 threshold on Tuesday morning, slipping to a low of $78,111 on Bitstamp after reaching a 14‑week high of $81,265. The decline coincided with a pullback in gold and a drop in US 30‑year Treasury yields.

Gold and bond market moves

Gold (XAU/USD) fell to $4,605 per ounce, down nearly 2% on the day, retreating from its multi‑month high of $4,697. US 30‑year Treasury yields slipped below 5.2%, approaching their lowest level since early August.

Equity market backdrop

US stock indices rose modestly, with the S&P 500 gaining 0.2% and the Nasdaq Composite up 0.5%, continuing a divergence from the earlier rally in crypto and gold.

Macro outlook

Market participants are now looking ahead to the release of the July Personal Consumption Expenditures (PCE) index and Nvidia’s earnings report, both scheduled for Wednesday. The PCE data is the Fed’s preferred inflation gauge, while Nvidia’s results could add further volatility to risk assets.

Market sentiment

Analysts note that the $80,000 zone, previously seen as strong resistance, proved difficult to hold as downside pressure grew during US trading hours. Futures markets show a 61.9% probability that the Federal Reserve will keep rates unchanged at its September meeting.