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Selling pressure stands out in Bitcoin and altcoins

Bitcoin fell below the $83,000 threshold on Monday and was trading around $82,600. According to CoinDesk data, the largest cryptocurrency was down 2% over the past 24 hours. The weakness in the market came at the same time as rising energy prices and renewed expectations of tighter monetary policy in the U.S.

The broader sell-off was felt more sharply in altcoins. ZEC fell about 7% and was trading just above $1,540, while DOGE dropped 5% to around $0.09. SOL and HYPE lost more than 4%, while Ether, BNB and XRP declined between 2% and 4%. TRX was flat.

  • ZEC: down about 7%, just above $1,540
  • DOGE: down about 5%, around $0.09
  • SOL and HYPE: losses of more than 4%
  • Ether, BNB and XRP: down between 2% and 4%

Oil and bond markets weakened risk appetite

Brent crude rose toward $108 per barrel. The move followed Tehran's refusal to soften its demands over reopening the Strait of Hormuz and mixed signals from U.S. President Donald Trump about possible new talks.

At the same time, U.S. Treasuries fell across the curve, with the five-year yield rising 7 basis points to 5.06%. Investors priced in a greater chance of another rate hike ahead of Wednesday's PCE data, one of the inflation measures most closely watched by the Federal Reserve (Fed). Nasdaq 100 futures fell 1%, while Asian chipmakers led a deeper sell-off and gold posted its sharpest monthly decline in a month.

Eyes on PCE and jobs data

Dan Khus, chief analyst at LVRG Research, linked Bitcoin's pullback to profit-taking after last week's sharp four-day rally, a liquidation wave of more than $500 million and a risk-off tone. According to the analyst, U.S. 10-year Treasury yields near their highest levels since 2007 and stubbornly high oil prices are keeping inflation sticky and sustaining expectations that the Fed could deliver one more rate hike.

The key releases for markets this week will be Wednesday's PCE data and Friday's nonfarm payrolls report. These figures are expected to help determine whether Bitcoin can recover back toward the mid-$80,000 range or whether bond yields and energy prices will keep weighing on risk assets.

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