Bitcoin rises 0.82% as DeFi tokens lead crypto rebound

  • Bitcoin recovered Monday’s losses, trading at $84,170 on Tuesday.
  • DeFi Select Index gained 5.0%, led by AAVE’s 11% increase.
  • Zcash fell roughly 13% below Friday’s level after further declines.

Bitcoin traded at $84,170 on Tuesday, recovering Monday’s losses and gaining 0.82% since midnight UTC and 1.4% over 24 hours. The broader CoinDesk 100 index rose 0.89% to 1,904.49, with 72 of its 100 constituents higher. The advance came despite pressure across traditional markets: the 10-year Treasury yield stood at 5.234% after closing Monday above 5.2%, near levels last seen in 2007, while the 30-year yield was 5.549% after topping 5.56%, around a 2004 high. Decentralized finance (DeFi), an ecosystem of blockchain-based financial applications, led crypto’s move for the second time in a week. The DeFi Select Index gained 5.0%, led by Aave’s AAVE token, up 11% at $149.48, and Curve DAO’s CRV, up 5.2% at $0.3457. The CoinDesk 80 outperformed the CoinDesk 5 since midnight, although the ranking reversed over 24 hours. Privacy tokens were the weakest segment, with Zcash falling 4.1% to $1,422.35 and Dash declining 6.4% to $61.38. Brent crude slipped below $100, while gold and the dollar index advanced.

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