Bitcoin Hits 11-Week High Amid US-Iran Tensions and Bond Yield Volatility
Bitcoin pushed to an 11-week high on Thursday, reaching $72,505 on Bitstamp, as trading activity strengthened during the early Wall Street session. This move coincided with a macro backdrop that turned riskier rather than calmer: US equities opened lower and bond yields rebounded after renewed geopolitical alarm around US-Iran tensions.
The rise in Bitcoin's price came despite analysts cautioning that the rally may still be too early to treat as a full 'bear market over' signal. Several on-chain observers noted that the market's prior sensitivity to liquidity and risk conditions remained a concern.
US-Iran tensions escalated after President Donald Trump threatened Iran with what he described as the 'most crushing economic operation ever taken against any country,' calling it 'Economic D-Day.' This rhetoric led to increased volatility in bond yields, with the US 30-year yield trading as low as 5.179% before rebounding to 5.266%, an increase of 9 basis points.
CryptoQuant's CEO, Ki Young Ju, highlighted a return of positive demand for Bitcoin across both spot and derivatives markets, describing it as 'modest' but potentially significant if sustained over the next month. However, analysts emphasized that technical levels and demand signals still require confirmation before calling a lasting bull-cycle shift.