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Bitcoin (BTC) dipped below $77,000 around Thursday’s Wall Street open as risk assets faced resurgent macro headwinds.
Key points:
- Bitcoin saw downside on the back of higher-than-expected US PPI inflation data, which hit 5.4% in August.
- Middle East strikes sent WTI crude oil over $100 per barrel for the first time since May.
- The US 30-year bond yield shrugged off a $6 billion buyback operation to hit its highest level since June 2007.
US bond yields surge despite $6 billion intervention
Data from TradingView showed BTC/USD on track for 2% losses on the day, following weakness in US equities.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Ongoing escalation in the Middle East fueled a fresh surge in oil prices, with WTI crude passing $100 per barrel for the first time since May 21. Brent crude passed $105 per barrel on the day, nearing a new 16-week high.
CFDs on WTI crude oil one-day chart. Source:…
