Crypto
Bitcoin Rebounds to $84K as Bond Yields Reach 24-Year High
Bitcoin rebounded to $84,000 after US 30-year bond yields reached their highest level since June 2002. The pair saw pressure on Monday due to uncertainty over the US-Iran war and associated global oil supplies, while bond yields spiked.
The US 30-year yield hit 5.58% before easing to 5.55% at the time of writing. Glassnode analysis cautioned about ongoing profit-taking by Bitcoin investors in the week through September 27.
Bitcoin preserved crucial support into Tuesday as analysis warned of a new profit-taking surge. BTC price steadied as bond yields came off multidecade highs.