Bitcoin Holds Above $64,000 as Treasury Yields Pull Back From Decade Highs

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Bitcoin continued to trade above $64,000 amid shifting conditions in global financial markets. U.S. Treasury yields retreated after reaching some of their highest levels in decades. Meanwhile, oil prices moved higher, adding another variable to the broader market picture. South Korea's Kospi index saw a sharp decline of around 6%, reflecting turbulence in Asian equity markets. The diverging movements across asset classes highlight ongoing uncertainty in global economic conditions.

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Bitcoin Holds Tight Range as Global Bond Yields Surge to Multi-Decade Highs

Bitcoin has remained confined to a narrow trading range for approximately six weeks, with its volatility falling to multi-year lows. Rising global bond yields, particularly U.S. Treasury yields, have been unsettling equity markets during this period. Traders appear to be in a wait-and-see mode ahead of the release of the Federal Reserve's July meeting minutes. Investors are closely watching the minutes for signals on the future direction of interest rates. The combination of macro uncertainty and reduced crypto volatility has left Bitcoin largely directionless for now.

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