Bitcoin Stuck in Limbo Amid Soaring Yields and Iran Tensions

Bitcoin held steady at around $83,637 on Tuesday as investors took a cautious approach to risk-driven assets amid soaring Treasury yields and escalating tensions between the US and Iran.

The world's largest cryptocurrency rose by just 0.6% in early trading, having reached as high as $85,000 over the weekend before reversing course.

Market sentiment remained subdued due to concerns over inflation, with benchmark Treasury yields reaching a 19-year high in September after the Federal Reserve hiked rates and presented a hawkish outlook.

Tensions between Saudi Arabia and Yemen's Houthi rebels also contributed to the cautious mood, as investors worried about potential disruptions to oil supplies.