Bitcoin pulled back from recent highs near $87,000 and is now trading in the $83,000-$84,000 range. The move coincides with U.S. Treasury yields climbing to multi-year highs while markets increase bets on additional Federal Reserve rate hikes, driven by persistent inflation signals that reduce expectations for near-term monetary easing.
What it moves
Bull vs bear
Bulls see the current dip as temporary consolidation before resuming the uptrend once yields stabilize and the market digests the hawkish repricing. Bears argue elevated real yields and a stronger dollar will keep pressuring risk assets, potentially dragging BTC lower until clearer disinflation data emerges.