Bitcoin fights for local uptrend as US bond yields drop from new 24-year highs
Bitcoin rose above $84,000 as US bond yields pulled back after hitting multidecade highs. BTC/USD kept a pattern of higher lows on the hourly chart and gained about 0.6% on the day. The US 10-year yield briefly reached 5.342%, its highest since April 2002, before easing to 5.251%. The yield surge has been tied to concern over rising public debt, higher government borrowing costs, Middle East conflict, and oil-driven inflation pressures. Softer-than-expected US PCE inflation data had little market impact. BTC remains rangebound between liquidity pockets around $84,500 and $82,900, with about $25 million in liquidations over 24 hours. Analysts expect a possible retest of $82,500; holding that level is seen as important for confirming a broader rebound, while a failed retest could turn messy.
