Yields, Iran Tensions Keep Bitcoin Under Pressure

Bitcoin's price remained steady at $83,637.1 on Tuesday, as markets continued to grapple with rising Treasury yields and heightened tensions between the US and Iran.

The world's largest cryptocurrency had reached as high as $85k over the weekend but quickly reversed course, indicating a cautious investor sentiment.

Citi's expansion of its digital asset services to Japan and the UAE provided some encouragement for traditional finance adoption, but the overall mood remained risk-averse.

Higher interest rates, fueled by expectations of more Fed hikes, weighed heavily on speculative assets like crypto, increasing their opportunity cost.