Testing $76,000 as Treasury Yield Hits 4.93%

<a href="https://xpertsstudio.com/bitcoin-etf-tanked-xrp-keeps-winning/” title=”Bitcoin ETF Tanked, XRP Keeps Winning”>Bitcoin Price Prediction: Testing $76,000 as Treasury Yield Hits 4.93%

• BTC-USD
• CL=F

Today’s Bitcoin price prediction is driven by Brent crude, which moved above $110 a barrel amid surging U.S. Treasury yields. The 10-year U.S. Treasury yield climbed to 4.93%, while Bitcoin fell below $77,000 and reached a daily low of $76,600. The move placed the closely watched $76,000 support level in focus.

Oil above $100 has sharpened inflation concerns across markets. Yet the immediate transmission channel described by the available market evidence runs through the bond market. Higher Treasury yields affect borrowing costs and financial conditions, while the macro energy shock has added pressure to Bitcoin as traders reassess inflation and monetary-policy risks.

The central tension is that oil supplies the inflation shock, while yields provide a direct measure of how that shock is being absorbed across financial markets. With inflation data lagging the latest rise in energy prices, market participants are making forward-looking valuations before official data can fully reflect the move in crude.

Period Summary: What Happened Yesterday

On September 10, higher oil prices and Treasury-market volatility coincided with a broad deterioration in market sentiment. Brent crude moved past $100 and then above $105, extending gains of more than 30% since early August. West Texas Intermediate crude rose by more than 4% and returned above $100 a barrel for the first time since May.

The primary evidence attributes the Brent move to concerns about supply disruptions caused by intensified attacks on Middle Eastern shipping routes. As oil prices rose, Bitcoin fell below the $77,000 defense line and reached its daily low of $76,676.07, dragging its price prediction down. Nasdaq 100 futures also fell 0.7%, indicating that the pressure extended beyond crypto markets.

The bond market was similarly volatile. The 10-year U.S. Treasury yield climbed to 4.93%, and the 30-year Treasury yield reached 5.35%, a 19-year high. The two-year Treasury yield rose to approximately 4.50%. Markets also priced a 76% probability of a Federal Reserve rate hike the following week, following an accelerated rise in the Producer Price Index alongside the crude-oil rally.

A key complication is the lag in inflation data. Most of the August inflation data was collected before crude prices rose further. That means current readings may not fully capture the energy-price pressure that market participants are already attempting to value.

In this setting, the market is reacting not only to published data but also to the possibility that later data will show more of the oil shock.

Source: finance.yahoo.com