Bitcoin pauses at $64,000 as rising yields, oil drag equities lower

MarketsBitcoin pauses at $64,000 as rising yields, oil drag equities lowerBTC has dropped 0.6% since midnight UTC as Nasdaq 100 futures slip 1.1%, with the FOMC's July meeting minutes and a White House crypto summit both due Wednesday.By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback2 hrs ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin is retracing Monday's rally from $62,600 to $64,600, tracking a pullback in Nasdaq 100 futures driven by rising bond yields and oil prices. Brent crude rose back to $94 a barrel after a 60-day U.S.-Iran ceasefire expired Monday without a deal, adding to inflation uncertainty ahead of Wednesday's Fed minutes.The Federal Reserve releases minutes from its July 28-29 FOMC meeting on Wednesday, the same day President Trump is expected to meet crypto industry executives at the White House.Bitcoin BTC$64,171.96 recently traded around $64,000, pausing after a rally that saw it rise from $62,600 on Monday. The largest cryptocurrency has dropped 0.6% since midnight UTC, trailing after Nasdaq 100 index futures, which lost 1.1% as U.S. Treasury bond yields and oil prices rose.Ether ETH$1,898.48 lost around 1% since midnight and coins including SUI, XLM and TAO also dropped.The increase in yields reflects unease ahead of the Federal Reserve minutes release due Wednesday after two consecutive softer inflation prints. Brent crude oil rose back to $94 per barrel after a 60-day US-Iran ceasefire expired Monday without a deal.Also on Wednesday, U.S. President Donald Trump is expected to attend a meeting with crypto CEOs at the White House, with U.S. policy being a key driver of price action of late, contributing to the stop-start nature of bitcoin’s range-bound performance. Derivatives positioningTaker ratio flips bullish: With BTC outperforming U.S. stocks on Monday, the long-short taker volume ratio in crypto futures flipped decisively from neutral to …

Bitcoin pauses at $64,000 as rising yields, oil drag equities lower

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