Bitcoin Steadies Around $64K as Rising Yields Sap Broader Market Appetite

Bitcoin is holding close to $64,000 despite growing pressure from rising Treasury yields and crude prices, as investors scale back exposure to riskier assets.

The U.S. 30-year Treasury yield reached its highest level since 2007, while Brent crude moved above $91 a barrel as tensions surrounding Iran escalated. Even with the worsening macro backdrop, BTC has remained within its recent trading range.

Galaxy Digital research chief Alex Thorn noted that Bitcoin’s 30-day realized volatility has fallen close to historical lows. He described the market as resembling a compressed spring, suggesting that the unusually quiet conditions could eventually result in a sharp price move.

Metaplanet Builds U.S. Bitcoin Treasury Presence

Japanese bitcoin treasury company Metaplanet is expanding into the U.S. through an investment in Nasdaq-listed Super League.

The company plans to contribute 2,100 BTC, worth roughly $132 million, along with $2.5 million in cash. In return, Metaplanet will receive common shares, preferred stock and warrants, putting the initial transaction value at about $134.6 million.

Super League shares surged roughly 120% in premarket trading following the announcement, despite the company having a market capitalization of only around $4.5 million.

Super League is expected to change its name to Superplanet and become Metaplanet’s U.S. bitcoin treasury vehicle while retaining its gaming media operations. Metaplanet is expected to own around 95.7% of the company’s outstanding shares.

The deal is expected to close in the fourth quarter, subject to shareholder, regulatory and other approvals.

Metaplanet CEO Simon Gerovich said the transaction will provide a Nasdaq-listed platform for raising capital and extending the company’s bitcoin treasury strategy across the U.S. and Japan.

U.S. Housing Starts Sink in July

U.S. housing starts dropped to a seasonally adjusted annual rate of 1.239 million in July, down 12.4% from June’s 1.415 million level.

The result was also significantly below the 1.35 million economists had forecast. Building permits offered a more positive signal, increasing 5% to 1.443 million versus expectations of 1.37 million.

Because housing-start data is particularly volatile and affected by seasonal adjustments, further reports will be needed to determine whether elevated interest rates are having a lasting impact on construction.

The 10-year Treasury yield increased 1.4 basis points to 4.738% on Tuesday.

Brent Crude Pushes Above $91

Brent crude climbed past $91 per barrel as tensions around the Strait of Hormuz intensified.

President Donald Trump shared a map on Truth Social suggesting that the strategic shipping route could potentially become U.S. territory, following remarks he made a day earlier.

Crypto Sentiment Improves, but Fear Persists

The Crypto Fear & Greed Index climbed to 41, its highest level since mid-May, although it remains firmly in the fear category.

The index runs from 0 to 100, with readings below 50 indicating fear. While the latest increase points to some improvement in market sentiment, it does not yet confirm a broader bullish shift.

A sustained move above 50 would provide a stronger signal that investor confidence is recovering. Until then, the market could remain vulnerable to a rally that loses momentum.

Bitcoin’s 200-Week Moving Average Reaches $64,217

Bitcoin’s 200-week moving average has moved above $64,000 and now stands at approximately $64,217.

The indicator tracks Bitcoin’s average weekly closing price over 200 weeks and is widely followed as a long-term measure of market health. With BTC trading close to the indicator, Bitcoin is once again testing a level that provided important support during the previous bear market.

Global Bond Sell-Off Weighs on Tech Stocks

The continued rise in long-term government bond yields has put additional pressure on technology stocks.

The Invesco QQQ ETF declined more than 1% in premarket trading as the U.S. 30-year Treasury yield jumped another 20 basis points to 5.32%.

Yields also rose in other major markets. The U.K.’s 30-year gilt yield climbed 23 basis points to 5.834% following weaker labor-market data, while Japan’s 30-year government bond yield reached 4.126%, approaching its May peak.

Bitcoin and precious metals also slipped over the previous 24 hours, although BTC continued to trade around $64,000.

CME Weekend Crypto Volume Tops $2 Billion

More than $2 billion in cryptocurrency has been traded during weekends since CME introduced round-the-clock crypto access on May 29.

CME said both retail and institutional participants are using its regulated marketplace to manage cryptocurrency exposure outside traditional trading hours.

Velo data shows Bitcoin has produced an aggregate weekday return of -0.5% over the past three months. Weekend performance has been stronger, with Saturday and Sunday combining for a 0.51% gain.

Bitcoin Holds Up Despite Rising Macro Pressure

Bitcoin traded around $64,100 on Tuesday, gaining roughly 1% and remaining above $64,000 despite weakness across traditional risk markets.

Ether was near $1,893, while most major cryptocurrencies were little changed. Hyperliquid was a notable exception, gaining around 8.3% over the week.

The biggest macro headwinds remain higher oil prices and rising borrowing costs. The 30-year U.S. Treasury yield reached 5.33%, its highest level since 2007, as investors demanded greater compensation amid inflation concerns and heavy government borrowing.

S&P 500 futures declined 0.5%, while Brent crude moved above $91 as U.S.-Iran tensions increased.

Higher oil prices could intensify inflationary pressure and reduce expectations for monetary easing. At the same time, rising Treasury yields can tighten financial conditions and make risk assets less attractive.

Bitcoin has nevertheless maintained relative strength, remaining higher on the day and week even as stocks decline and long-term yields reach multi-year highs.

A move above $64,500 could reinforce the view that fresh buyers are absorbing the macroeconomic pressure. However, a further rise in crude toward $100 or another surge in Treasury yields could put Bitcoin’s resilience to a serious test.