Bitcoin slips from $80K as gold cools with falling US bond yields
Bitcoin slipped back below $80,000 at the US market open, falling to about $78,111 after briefly hitting a 14-week high near $81,265. The $80,000 level again acted as strong resistance, and the decline came alongside weakness in gold, which also sold off during US trading hours. In contrast, US stocks edged higher, with the S&P 500 and Nasdaq posting modest gains. Bond yields continued to ease, with the US 30-year yield dropping below 5.2%, while traders discussed whether Treasury intervention, rather than Fed rate cuts, may be needed to support markets. Rate-cut expectations remain limited, with the Fed widely expected to hold steady in September. Near-term attention is on Wednesday’s PCE inflation report and Nvidia earnings, both seen as potential volatility drivers ahead of the Jackson Hole symposium later in the month.
