Bond Yields and US-Iran Tensions Weigh on Bitcoin Price

Global bond yields have been rising this week, pushing Bitcoin's price down from $81,365 to $76,250.

The surge in bond yields is attributed to several factors, including the ongoing US-Iran war and higher oil prices.

The US-Iran conflict has increased expectations for a Federal Reserve rate hike, putting pressure on risk assets like Bitcoin.

Despite this, technical analysis suggests that the bullish trend is still intact, with BTC remaining above its 50-day Exponential Moving Average (EMA) and Major S/R Pivot Point of the Murrey Math Lines tool.