Bitcoin Stabilizes Near $77,000 Amid Global Bond Selloff

Bitcoin has stabilized near $77,000 amidst a global bond selloff, testing its resilience in the post-rally period. Japan's benchmark 10-year government bond yield held above 3% for the second straight session, while US and European yields also rose.

Brent crude climbed to above $95 as renewed U.S.-Iran hostilities fueled concerns over further energy supply disruptions. However, Bitcoin's pullback from its local high has been limited so far, with Joel Kruger of LMAX Group attributing its relative resilience to 'dips continue to attract demand,' reinforcing the view that the market is consolidating after its recent surge.

According to K33 research, futures and perpetual open interest stood at $38.6 billion, down 1.8% over the past week. The lack of leverage in the derivatives market has been described as a healthier setup for the market by Paul Howard, pointing to spot accumulation.