• Home
• News

Bitcoin fell to about $82,882 on Thursday, down 1.6%, after topping $87,000 earlier in the week, as profit-taking coincided with a stronger dollar, higher U.S. Treasury yields and weaker equities.

Bitcoin Retreats After Strong Rally

The decline came after a powerful rally that pushed the largest cryptocurrency by market value to an eight-month high. Bitcoin gained about 9% last week, prompting some investors to lock in part of their recent gains as global market trends shifted.

Ethereum, the second-largest cryptocurrency, fell to about $2,628, while other digital assets including XRP, Solana and Zcash also came under pressure.

Dollar and Bond Yields Weigh on Crypto

The cryptocurrency decline coincided with gains in the U.S. dollar and a sharp rise in Treasury yields, alongside weaker equities. Such conditions typically add pressure to higher-risk assets.

Analysts said the latest pullback may be linked to profit-taking following recent gains, while investors continue to monitor broader market trends. Bitcoin's move above its 50-week moving average has also encouraged some traders to bet on a continuation of the rally.

Additional pressure came from rising yields on longer-dated U.S. Treasuries. The 30-year Treasury yield climbed to its highest level since 2004, while the dollar continued to strengthen.

At the same time, S&P 500 futures fell about 0.6%, while Nasdaq 100 futures declined around 1%.

$15 Billion Bitcoin Options Expiry in Focus

Crypto traders are also watching the expiry of quarterly Bitcoin options worth about $15 billion on Deribit on Friday, with more than one-third of total open contracts due to expire.

The put-to-call ratio stands at about 0.70, indicating that bullish bets outnumber bearish positions.

The cryptocurrency market also remains influenced by several factors, including the lack of sufficient progress in the United States on long-awaited legislation to establish a regulatory framework for the crypto market.