Bitcoin hovers around $77,000, as government bond yields rise to multi-year highs, weighing on risk assets


On Tuesday morning in the U.S., the overall crypto market was flat. Bitcoin was trading near $76,800, down slightly 0.5% over the past 24 hours, retreating from last weekend’s peak of $82,000. The stock market fell for the third consecutive trading day, with the Nasdaq leading the decline.
Crypto-related stocks showed mixed performance: Coinbase (COIN) and eToro (ETOR) rose slightly, while Robinhood (HOOD) and Gemini (GEMI) declined. Most mining stocks were weak, but Cleanspark (CLSK) rose against the trend by about 2%. Bakkt (BKKT) jumped 19% in early trading after regulatory filings showed that director Michael Alfred’s investment vehicle bought about $4.85 million worth of the company’s shares. The company is advancing its stablecoin and payments infrastructure business through acquisitions of Distributed Technologies Research.
The yield on the 30-year U.S. Treasury reached the highest level since 2007 (5.186%), the 10-year yield rose to 4.66%, and the 2-year yield rose to 4.11% (all the highest levels since February 2025). Rising yields increase the opportunity cost of non-yielding assets such as Bitcoin and gold, and also raise borrowing costs, putting pressure on risk assets. Bond yields in Japan and the UK also saw similar increases.
With Bitcoin prices under pressure, mainly driven by continued increases in U.S. Treasury yields, the macro environment has reduced the appeal of risk assets. Stocks such as Bakkt rebounded noticeably due to its stablecoin business positioning and insider share purchases, showing that some crypto infrastructure-related companies still have independent resilience. Overall, the market remains highly focused on the Federal Reserve’s policy path and global bond yield trends, as the linkage between crypto assets and traditional financial markets continues to strengthen.
The above content is compiled based on publicly available market information and is for reference only and does not constitute any investment advice or financial opinion.
$BTC
BTC-3.41%
NAS1000.23%
COIN-4.49%
HOOD-3.42%
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