Bitcoin was unable to surpass the $85,000 mark as selling pressure intensified, according to CoinTelegraph. The cryptocurrency faced resistance from sellers who maintained control above current levels, preventing further upward movement.
CoinTelegraph also noted that rising US bond yields added downward pressure on the broader market, affecting not only stocks but also precious metals, which in turn influenced Bitcoin's performance. The increase in bond yields typically signals a shift in investor sentiment, impacting risk assets like cryptocurrencies.
For Japanese investors, this development comes amid ongoing market volatility, where shifts in US financial indicators continue to have significant ripple effects across FX, crypto, and equity markets in Japan.