Bitcoin hits $81K as oil rebound lifts bond yields — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin reached local highs of $81,034 on Bitstamp, filling pockets of upside liquidity, per TradingView data
- Cross-crypto short liquidations totaled approximately $250 million over four hours as a cluster of short positions above spot came under fire, per CoinGlass
- US WTI crude fell to lows of $94.8 per barrel before rebounding to roughly $98 during Asia trading, per TradingView CFDs
- The IEA warned countries may have no choice but to cut oil usage, noting Strait of Hormuz flows fell to 7.6 million barrels per day in August—13.1 million below the daily tally before the US-Iran war
- US 30-year bond yields climbed to 5.34%, up 90 basis points on the day, amid a broader pattern of rising yields forcing central banks in the US and Japan to raise interest rates this week
- Analyst Rekt Capital flagged $82,000 as the key level for BTC/USD, warning that failing to break it would form a double rejection pattern alongside the mid-May rebound
- Bitcoin reclaimed its True Market Mean at $76,660, per Glassnode, while the cost basis for corporate treasuries sat at $80,500, reinforcing the significance of the current local range
Why it matters: Bitcoin's reclaim of the True Market Mean at $76,660 places it back in what Glassnode calls a 'bullish regime,' but $82,000 is now the decisive barrier—Rekt Capital warns a rejection here would echo the mid-May topping pattern. The $250 million in four-hour short liquidations shows how thin the liquidity pockets above spot remain, amplifying directional risk. With oil rebounding and the 30-year yield at 5.34%, the macro backdrop is tightening, making Bitcoin's decoupling from traditional markets the trade-defining divergence.
Ask SkimNews
