Bitcoin holds $83,000 as ZEC drops 12% and oil climbs again — SkimNews
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- Bitcoin slipped under 1% to just above $83,100, testing the floor of last week's range after the 10-year Treasury yield touched its highest level since 2007
- Zcash led major-token losses with a 12% drop to around $1,380, while The Graph's GRT surged 18% and Immutable's IMX gained nearly 10% among smaller tokens
- The 10-year Treasury yield rose one basis point to 5.25% in Asia after Monday's surge, raising the bar for holding yield-free assets like Bitcoin
- Brent crude climbed more than 1% to nearly $107 a barrel for a second straight day as hopes for an imminent diplomatic breakthrough with Iran faded
- The crypto sentiment index sat at 74 out of 100 on Monday — just short of 'extreme greed' — a level FxPro contrasted with 20 straight days of fear in equities
- FxPro chief market analyst Alex Kuptsikevich said a sustained drop below $80,000 would signal the market isn't ready to move higher, but renewed bullish momentum could push Bitcoin above $90,000
- Wednesday's PCE inflation print from the Commerce Department is the next key catalyst, with a hotter-than-expected reading likely to reinforce rate-hike bets and Treasury-yield pressure
Why it matters: Traders now treat Wednesday's PCE print as the immediate pivot: a hot reading would lift the 10-year yield — already at a 2007-era 5.25% — and risk pulling Bitcoin below the $80,000 floor that Kuptsikevich flags as a bearish trigger, while a soft print could reignite the push toward $90,000. The split between crypto greed (74/100) and 20 straight days of stock-market fear shows crypto is still trading on its own internal narrative even as macro pressure mounts.
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