Bitcoin Slumps to $76,000 Amid Oil Price Surge and Rising Treasury Yields

Bitcoin retreated to the $76,000 range due to surging international oil prices and rising U.S. Treasury yields.

Escalating geopolitical tensions in the Middle East have heightened concerns over crude supply disruptions, reigniting inflation fears and bringing prolonged Federal Reserve tightening back into focus.

The 10-year U.S. Treasury yield surpassed 4.95% intraday, reaching its highest level since October 2023, as investors worry that rising energy prices could reignite inflation.

Rising interest rates reduce the relative appeal of non-yielding assets like Bitcoin.