Risk-Off Sentiment Dominates Markets as Oil Prices Rise

Risk-off sentiment is dominating market sentiment as crude oil prices and U.S. Treasury yields continue to rise.

The Dow Jones Industrial Average (Dow) is testing a support level that has held since April 2026, while Bitcoin is facing resistance at the $84,000 level, which corresponds to its May 2026 high.

The combination of rising crude oil prices and elevated Treasury yields is putting pressure on risk assets, including precious metals, currencies, and Bitcoin. This could lead to another short-term decline in equity indices like the Dow.

A breakout above $84,000 for Bitcoin would target the 50% and 61.8% Fibonacci retracement levels near $92,000 and $100,000, respectively, while a breakdown below $74,000 would target $65,000.