Bitcoin Rebounds as Yields Ease — Market Update
Live updates: Bitcoin edges up from worst levels as yields pull back
Bitcoin stabilized and rebounded Tuesday after sliding a day earlier alongside a global move higher in bond yields, offering some relief across risk assets.
The pullback followed Monday’s jump in Treasury yields, which came after the Bank of Japan hinted it may raise interest rates soon. As yields calmed on Tuesday, bitcoin—after briefly tumbling below $85,000 on Monday—moved back above $91,000, according to the Associated Press.
U.S. stocks also steadied as bitcoin and bond markets cooled. The S&P 500 rose 0.2% to 6,829.37, the Dow Jones Industrial Average gained 0.4% to 47,474.46, and the Nasdaq climbed 0.6% to 23,413.67. The Russell 2000 slipped 0.2% to 2,464.98.
Bitcoin’s move also helped shares of several crypto-related companies bounce back from sharp declines on Monday, when higher yields pressured markets broadly.
In crypto markets beyond bitcoin, ether underperformed. Ether fell 6% after Tom Lee said Bitmine would soon stop purchasing additional ETH, a comment that weighed on sentiment around near-term demand.
Investors have been parsing crosscurrents in global monetary policy. The Federal Reserve has already cut its overnight interest rate twice this year as it tries to support a slowing job market, while the earlier U.S. government shutdown delayed several key economic reports. Vanguard said its data suggest the U.S. labor market “remains stable but is still soft compared with last year.”
The day’s price action underscored how closely crypto can track broader financial conditions, particularly shifts in bond yields that influence appetite for risk across stocks and digital assets.
