Live updates: Bitcoin holds $64,000 as surging yields and oil drain risk appetite
Bitcoin is showing resilience at the $64,000 level despite macroeconomic headwinds including rising Treasury yields and surging oil prices. While traditional equities are falling due to inflation concerns, Bitcoin is currently diverging from the broader risk-asset trend.
Why it matters
Bitcoin's ability to maintain value during periods of high inflation and rising interest rates tests its status as a potential hedge against traditional market volatility.
Ether held near $1,893 and the rest of the majors sat flat, with Hyperliquid the week's outlier, up 8.3%.
The pressure is coming from bonds and crude. The 30-year Treasury yield rose to 5.33%, its highest since 2007, as investors demand more to finance heavily indebted governments and guard against sticky inflation. Long-dated yields climbed worldwide, and S&P 500 futures fell 0.5%, heading for a third straight day of losses.
Brent crude topped $91 a barrel as the US-Iran conflict escalated, with Trump threatening to bomb Oman if it interferes with US operations in the region.
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