Bitcoin Defies Macro Headwinds with Resilient Hold Above $64,000
Bitcoin has managed to hold above $64,000 despite rising bond yields and climbing oil prices, which are draining appetite for risk assets.
The 30-year Treasury yield rose to its highest level since 2007 at 5.33%, as investors demand higher returns to finance governments with heavy debt burdens and guard against inflation.
Long-dated yields have climbed worldwide, while the S&P 500 futures fell 0.5% for a third straight day of losses.
Brent crude oil prices topped $91 a barrel due to escalating tensions between the US and Iran, with President Trump threatening to bomb Oman if it interferes with US operations in the region.
The macro headwind has capped crypto markets all summer, but Bitcoin is holding firm, up 1% on the day and green on the week while stocks fall.