Bitcoin drops below $77,000 amid higher oil prices and yields

Bitcoin fell below $77,000 on Monday, reaching its lowest level since early May, as rising geopolitical tensions and inflation fears prompted a broad retreat from riskier assets. The cryptocurrency traded around $76,726 during Asian trading hours, marking a decline of roughly 1.5% over the previous 24 hours.

The move was driven by a confluence of factors, primarily a surge in crude oil prices above $110 per barrel and a sharp rise in Treasury yields. Oil prices climbed following reports of drone-related incidents in the United Arab Emirates and stalled diplomatic negotiations concerning Iran. U.S. President Donald Trump intensified tensions over the weekend, warning that time was ticking for Tehran to reach a deal with Washington. The spike in energy prices amplified concerns about persistent inflation, triggering a selloff in government bonds.

The 30-year Treasury yield climbed to 5.13%, its highest closing value since 2007, while the 10-year yield also reached levels not seen since early 2025. Higher yields enhance the attractiveness of traditional fixed-income instruments relative to non-interest-bearing assets like Bitcoin. Prediction market data indicates a 98% probability...