Bitcoin Holds Near $84,000 as Crypto Market Remains Cautious Amid Rising Yields

Bitcoin traded near $84,000 on Friday after witnessing some profit booking from recent highs. The cryptocurrency was trading at the $84,658 level.

In the past 24 hours, Bitcoin and Ethereum were up 1.63% and 2.37%, respectively. Among major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin, and Cardano gained up to 8.24%, whereas Tron was down 0.55%

Avinash Shekhar, Co-founder and CEO of Pi42, said the broader crypto market remains cautious as rising US Treasury yields have put pressure on risk assets.

Despite the pullback, BTC continues to hold above important near-term support levels, suggesting that buyers remain active on dips. Avinash further said Bitcoin's ability to hold key support levels will remain important for market direction, and traders should expect volatility to remain elevated and avoid excessive leverage as the market searches for its next decisive move.

The global crypto market capitalisation was up 1.72% to $2.89 trillion, according to data on CoinMarketCap. The crypto fear and greed index is currently at 73, indicating the market sentiment is greedy.