Bitcoin, stocks and gold all fall on surging US bond yields, with macro risk factors showing no signs of cooling.
BTC price stayed pinned below $77,000 amid rising US bond yields and oil prices, with market analysts saying Bitcoin is now at a "crucial level of support.
"Catalysts, such as high oil prices, continue to impact market sentiment with the US-Iran war stakes still high. US 30-year yields reach highest since 2007This sparked downside pressure on stocks, along with gold and silver. XAU/USD fell below $4,500 to reach its lowest levels since late March. Commenting, Ole S. Hansen, head of commodity strategy at Saxobank, said that bonds reflected demand for “greater compensation for holding longer-dated debt amid war-driven energy inflation and mounting concerns over widening budget deficits.
” “This development has sent gold below USD 4,500 support, highlighting the current market reaction function driven by oil, inflation expectations, bond yields, and central bank rate expectations,” he wrote in a, Trump added that gulf countries should be “prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, in the event that an acceptable Deal is not reached” on the conflict. In crypto circles, the outlook became gloomier.
Trader and analyst Michaël van de Poppe warned of a double BTC price headwind of high bond yields and“Neither of these are progressive for risk-on assets , which means that we clearly need to see those reverse in order to see strength pouring back into the ecosystem,” he“Bitcoin is at a crucial level of support and it seems to be that it's going to be holding,” a previous X postBTC/USDT one-day chart. Source: Michaël van de Poppe/Xand is intended for informational purposes only.
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