Live updates: Bitcoin steadies near $84,000 as the bond selloff pauses
Bitcoin prices are stabilizing near $84,000 following a period of volatility and a pause in the bond market selloff. Analysts suggest the current price action is a temporary consolidation within a broader bullish trend.
Why it matters
Bitcoin's price movements remain a key indicator for broader market sentiment and the health of the cryptocurrency sector.
Bonds found a floor in Asia. The 10-year Treasury yield slipped two basis points to 5.17% after jumping more than 20 basis points over the previous two sessions, and Brent fell 1% to about $105 a barrel on reports that Washington and Tehran are exploring a phased deal to reopen the Strait of Hormuz.
FxPro chief market analyst Alex Kuptsikevich reads bitcoin's drop as a stall short of the target technical traders had projected for the rally that began in mid-August.
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