Oil Surge and Higher Yields Weigh on Crypto Markets

Crypto markets experienced pressure due to rising oil prices and higher Treasury yields, leading to a decline in several major assets. Dogecoin led the losses among top cryptocurrencies, falling more than 5% over 24 hours.

Brent crude pushed above $100 per barrel, exacerbating concerns about inflation and monetary policy. The U.S. 10-year Treasury yield moved near 4.85%, its highest level since late 2023, increasing the attractiveness of traditional fixed-income assets.

Bitcoin remained relatively stable compared to other major cryptocurrencies, trading around $78,000 after a 1% decline over the previous 24 hours. The dollar has not maintained momentum despite earlier strength associated with the oil shock.