Bitcoin Tumbles to $77,200 Amid Rate Pressure

Bitcoin's price slipped to around $77,200 on Sunday as investors weighed elevated interest-rate expectations against the token's potential as a diversification play.

The cryptocurrency has struggled to regain momentum since higher bond yields and expectations of sustained high interest rates made dollar-denominated assets more attractive.

A report from Bitcoin Suisse argued that bitcoin could provide a different source of portfolio risk, rather than serving as a traditional safe-haven asset. The firm's historical modeling showed annualised returns on a traditional portfolio rising to 7.2% with a 1% BTC allocation funded from bonds.