Bitcoin Holds Near $78,000 as Global Bond Yields Surge

Bitcoin stayed flat near $78,000 on Tuesday despite a sharp rise in long‑term sovereign bond yields worldwide.

Bond Market Spike

Japan’s 10‑year government bond (JGB) yield climbed to 3 % – the highest level since 1996 – and the 30‑year JGB topped 4.18 %, a 30‑year record. In the United States, the 10‑year Treasury yield rose to 4.78 %, also reaching a multi‑year high.

These moves come after U.S. Treasury Secretary Scott Bessent announced an increase in the maximum size of debt‑buyback transactions to $4 billion, a change some analysts compare to a form of yield‑curve control.

Implications for Bitcoin

Amid the bond sell‑off, Bitcoin traded sideways around $78,000 after slipping from a brief high near $79,000. A strong resistance zone between the current price and $86,000 has limited upside momentum.

Analysts note that the $76,000‑$82,000 range will likely define short‑term price action, with sentiment described as mixed but cautiously optimistic following a robust recovery in August.

Broader Market Context

U.S. equity futures fell 0.3 %, leaving the S&P 500 near 7,660, its lowest level since early August. Oil prices rose over 2 %, with WTI around $88 per barrel and Brent above $92, driven by renewed tensions in the Iran‑U.S. conflict.