Bitcoin Rebounds to $84,000 Amid Macro Pressures and Volatility

Bitcoin has recovered from its sharp fall to around $84,000 after falling from the $87,000-$87,200 zone. The cryptocurrency's rebound needs further confirmation as macroeconomic pressures, elevated bond yields, and derivatives volatility continue to influence risk appetite.

Minal Thukral, Executive Vice President-Growth & Crypto Business Head at CoinDCX, noted that Bitcoin was trading around $84,250, continuing to consolidate after the sharp drop from $87,200. The broader crypto market remained mixed, with the Crypto Fear and Greed Index at 73, indicating a greedy market sentiment.

The recent pullback has come against a backdrop of tighter financial conditions and renewed pressure on risk assets. Vikram Subburaj, CEO of Giottus.com, said Bitcoin was trading around $84,200 as rising US Treasury yields triggered a broader risk-off move.