Bitcoin traded near $64,100 on Tuesday, up 1% on the day and holding above $64,000 even as rising bond yields and climbing oil drained appetite for risk assets, per CoinDesk data.
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.
That combination is the macro headwind that has capped crypto all summer, now sharpening. Higher oil feeds inflation, higher inflation lifts yields, and rising borrowing costs pull…
