Bitcoin remained resilient near $64,000 on Tuesday despite a sharp rise in long-term Treasury yields and crude oil prices, both of which continued to weaken demand for riskier assets.
The U.S. 30-year Treasury yield climbed to its highest level since 2007, while Brent crude moved above $91 as tensions linked to the Iran conflict intensified. Despite the macro pressure, Bitcoin continued to hold its recent range.
Galaxy Digital research chief Alex Thorn said Bitcoin’s 30-day realized volatility has continued to decline and is now approaching historical lows. He described the setup as resembling a compressed spring that could eventually release with a significant price move.
Metaplanet Expands Its Bitcoin Treasury Strategy to the U.S.
Japanese bitcoin treasury company Metaplanet is preparing to establish a U.S. presence through an investment in Nasdaq-listed Super League.
Metaplanet announced that it will provide 2,100 BTC, worth approximately $132 million, along with $2.5 million in cash to Super League. In return, the company will receive common shares, preferred stock and warrants, bringing the initial investment to about $134.6 million.
Super League shares jumped around 120% in premarket trading following the announcement, despite the company having a market value of only about $4.5 million.
The company will be renamed Superplanet and become Metaplanet’s U.S. bitcoin treasury vehicle while continuing to operate its gaming media business. Metaplanet is expected to hold approximately 95.7% of the company’s outstanding shares.
The transaction is expected to close during the fourth quarter, subject to shareholder approval, regulatory clearance and other conditions.
Metaplanet CEO Simon Gerovich said the deal gives the company a Nasdaq-listed platform through which it can raise capital and expand its bitcoin treasury strategy in both the U.S. and Japan.
U.S. Housing Starts Plunge in July
U.S. housing starts fell unexpectedly in July, dropping to an annualized rate of 1.239 million.
That represented a 12.4% decline from June’s 1.415 million rate and came in below the 1.35 million economists had anticipated.
Building permits offered a more positive signal, rising 5% to 1.443 million compared with the 1.37 million forecast. Because housing starts can be highly volatile and affected by seasonal adjustments, additional data will be needed to determine whether higher interest rates are beginning to significantly affect construction activity.
The 10-year Treasury yield also moved higher Tuesday, increasing 1.4 basis points to 4.738%.
Brent Crude Tops $91 as Hormuz Tensions Escalate
Brent crude climbed above $91 per barrel to another multi-week high as tensions surrounding the Strait of Hormuz intensified.
President Donald Trump posted a map on Truth Social suggesting that the strategic waterway could become U.S. territory, following comments he made the previous day about the region.
Crypto Sentiment Improves but Fear Remains
The Crypto Fear & Greed Index increased to 41, its strongest reading since mid-May, although the market remains in the fear zone.
The index ranges from 0 to 100, with readings below 50 indicating fear. The latest improvement points to some recovery in sentiment, but it does not yet represent a confirmed shift in market psychology.
A sustained move above 50 would provide stronger evidence that sentiment is turning positive. Until then, traders remain vulnerable to a temporary rally that could quickly reverse.
Bitcoin’s 200-Week Moving Average Climbs Above $64K
Bitcoin’s 200-week moving average has moved above $64,000 and currently sits near $64,217.
The long-term indicator tracks Bitcoin’s average weekly closing price over 200 weeks and is closely watched by traders. With BTC trading close to the same level, the cryptocurrency is once again testing a major long-term benchmark that previously provided support during the bear market.
Rising Global Yields Weigh on Technology Stocks
The sell-off in longer-term government bonds continued to pressure technology shares.
The Invesco QQQ ETF fell more than 1% in premarket trading as the U.S. 30-year Treasury yield jumped 20 basis points to 5.32%.
Bond yields also increased overseas. The U.K.’s 30-year gilt yield climbed 23 basis points to 5.834% after labor-market data came in weaker than expected, while Japan’s 30-year government bond yield reached 4.126%, approaching its May high.
Bitcoin and precious metals also declined modestly over the previous 24 hours, although BTC remained near $64,000.
CME Weekend Crypto Trading Tops $2 Billion
More than $2 billion worth of cryptocurrency has changed hands on weekends since CME introduced 24/7 crypto trading on May 29.
The exchange said both retail and institutional traders are using its regulated marketplace to manage crypto exposure around the clock.
Velo data shows Bitcoin has generated an aggregate weekday return of -0.5% over the past three months. Weekend performance has been stronger, with Saturday and Sunday together producing a 0.51% return.
Bitcoin Defies the Macro Pressure
Bitcoin was trading near $64,100 Tuesday, up about 1% on the day and maintaining its position above $64,000 despite worsening conditions across traditional risk markets.
Ether remained near $1,893, while most major cryptocurrencies traded largely flat. Hyperliquid was an exception, gaining roughly 8.3% over the week.
The primary macro pressures remain higher oil prices and rising bond yields. The 30-year U.S. Treasury yield reached 5.33%, its highest level since 2007, as investors demanded greater compensation for government debt and persistent inflation risks.
S&P 500 futures fell 0.5%, putting equities on track for another decline, while Brent crude pushed above $91 amid escalating U.S.-Iran tensions.
Higher oil prices can add to inflationary pressure, potentially keeping interest rates elevated for longer. Rising yields and borrowing costs can then reduce liquidity available for risk assets, creating a challenging backdrop for Bitcoin.
Yet BTC has remained relatively strong. It is higher on both the day and week even as stocks decline and long-term bond yields reach multi-year highs.
A move above $64,500 could strengthen the argument that new buyers are absorbing the macroeconomic pressure and supporting Bitcoin’s price.
On the other hand, another surge in crude toward $100 or a continued rise in Treasury yields could quickly test Bitcoin’s ability to maintain its relative strength.
