Bitcoin held above $64,000 on Tuesday even as a jump in Treasury yields and Brent crude drained broader risk appetite. The token traded near $64,100, up 1% on the day, while CME data showed more than $2 billion in weekend crypto trading since 24/7 access launched in May.
Yields and oil weigh on risk assets
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, according to CoinDesk data. Ether held near $1,893 while the rest of the majors sat flat, and Hyperliquid was 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 level 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.
Bitcoin diverges from equities
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 money out of risk assets. Bitcoin sits in the same risk complex, so the read-through is negative at the margin.
Even so, bitcoin is holding up. It is up on the day and green on the week while stocks fall for a third session and yields hit generational highs, the kind of relative firmness that fits the returning-ETF-demand thread rather than fighting it. A break above $64,500 would strengthen the case that fresh buyers are absorbing the macro pressure, while oil pushing toward $100 and yields climbing further would test that resilience fast.
Weekend trading tops $2 billion since CME's 24/7 launch
More than $2 billion has traded on weekends since CME launched 24/7 crypto access on May 29, the exchange said, adding that both retail traders and institutional investors are using its regulated marketplace to manage cryptocurrency risk around the clock.
Over the past three months, bitcoin has generated an aggregate return of -0.5% on weekdays, while weekends produced a combined return of 0.51%, according to Velo data.
Source: CoinDesk
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