Bitcoin crucial support level is now under pressure. On Tuesday, BTC stayed pinned below $77,000 as US bond yields and oil prices rose.
Market analysts say Bitcoin is at a make‑or‑break point.
US 30‑year yields reach highest since 2007
Data from TradingView showed BTC/USD lingering below $77,000 around the Wall Street open. The previous day’s floor remained intact.
Macro headwinds continued to focus on US bond markets. The 30‑year yield hit its highest levels since July 2007. Consequently, downside pressure hit stocks, gold, and silver. XAU/USD fell below $4,500 to its lowest levels since late March.
Analysts noted the market reaction function. It is driven by oil, inflation expectations, bond yields, and central bank rate expectations.
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Why Bitcoin crucial support level matters
Trader and analyst Michaël van de Poppe warned of a double headwind. High bond yields and high oil prices both weigh on Bitcoin.
“Neither of these are progressive for risk‑on assets (including Bitcoin),” he told X followers. “We clearly need to see those reverse in order to see strength pouring back into the ecosystem.”
Van de Poppe said Bitcoin itself did not “look great.” However, he noted that “Bitcoin is at a crucial level of support and it seems to be that it’s going to be holding.”
He added: “Anything lower of $75,000 ‑ $76,000 might signal that the accumulation needs to take longer.”
For now, the $76,000 – 77,000 zone remains the line in the sand. A break below could open the door to deeper losses. A hold, on the other hand, might keep the long‑term structure intact.