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Bitcoin
2026-08-31 16:38:51

Bitcoin Swings Near $78K as Treasury Yields Push Toward Fresh Long-Term Highs

Bitcoin traded in a tight but choppy range near $78,000 at Monday’s Wall Street open, with intraday action turning higher after US Treasury Secretary Scott Bessent commented on the bond market in a CNBC interview. TradingView data cited by Cointelegraph showed BTC/USD up about 1% on the day, even as price whipsawed within its local range. Bessent said he had not yet stepped in to support the long end of the US yield curve and added that he was comfortable with yields rebounding after the Treasury’s recent announcement. That came as the 10-year Treasury yield climbed back to 4.76%, its highest level since January 2025, while the 30-year yield reached 5.269%, just 6 basis points below levels last seen in January 2007. The Kobeissi Letter said the bond market appeared to be ignoring the Treasury, and Ray Dalio separately reiterated doubts that the new buyback program could control bonds, naming gold and Bitcoin as possible hedges against a future US debt crisis. On the technical side, BTC held its 50-week EMA at $77,269 ahead of the August monthly close, but analyst Rekt Capital warned that a hidden bearish divergence on the daily RSI could point to fading momentum despite stronger signals on the weekly chart.

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Bitcoin Swings Near $78K as Treasury Yields Push Toward Fresh Long-Term Highs