Bitcoin at 'Crucial' Support as US Bonds Pressure Crypto, Stocks and Gold

Bitcoin is currently facing significant market pressure as surging US bond yields, which have reached their highest levels since 2007, weigh on risk assets including stocks, gold, and cryptocurrencies. Analysts, such as Michaël van de Poppe, highlight that the combination of high bond yields and rising oil prices is creating a challenging environment for Bitcoin, which remains at a 'crucial' support level. If prices dip below the $75,000 to $76,000 range, it may signal an extended period of accumulation for the asset.

Furthermore, geopolitical instability involving the US and Iran continues to fuel market volatility. Commodity experts note that investors are demanding higher compensation for long-dated debt due to energy inflation and growing budget deficit concerns. As a result, market sentiment remains cautious, with Bitcoin struggling to find upward momentum amid these prevailing macro headwinds.

(Source：Cointelegraph)