Bitcoin’s $82,000 support test faces pressure from rising Treasury yields

  • Bitcoin traded near $83,100 after retreating from above $87,000, making the $82,000-$82,500 area a key support test for the XRP and broader altcoin rally.
  • Spot Bitcoin ETFs drew more than $1.6 billion in about 72 hours and nearly $2.4 billion for the week, while the altcoin index gained 5.0% versus Bitcoin’s 4.1%.
  • Rising Treasury yields and oil prices intensified rate-hike concerns as analysts debated retests near $79,000-$82,000, downside toward $62,000, or rallies above $90,000 and toward $100,000.

Bitcoin traded just above $83,100 during Tuesday’s Asian session after retreating from above $87,000, putting the $82,000-$82,500 area under scrutiny as support for the XRP and broader altcoin rally. The move came as the 10-year U.S. Treasury yield reached its highest level since 2007 before settling near 5.25%, while Brent crude rose above $100 a barrel and increased expectations of further Federal Reserve tightening. Analysts offered mixed outlooks: Wintermute, Ali Martinez, Gerla, Doctor Profit and Alex Kuptsikevich identified potential buying or retest zones, while Greeks.live analyst Adam, Crypto with Haris ₿ and others warned of deeper downside or an ongoing bear market. Spot Bitcoin ETFs recorded more than $1.6 billion of inflows in about 72 hours and nearly $2.4 billion for the week, although another report cited $999 million on Monday followed by $150 million by Friday. The altcoin index gained 5.0% in week 39 versus Bitcoin’s 4.1%, but market breadth remained unconfirmed.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.