Bitcoin's soft-inflation pop to $85,500 fades as bond yields refuse to fall
In this news:
Key takeaways
- Bitcoin fell back from $85,500 after a soft inflation print failed to sustain its gains.
- The 10-year Treasury yield remained elevated around 5.28% and weighed on markets.
- Global tech stocks rose following Micron Technology's upbeat earnings forecast.
Late swings on Wall Street erased the gains. The 10-year Treasury yield traded around 5.28%, close to Wednesday's peak. The 30-year steadied at 5.62% after hitting its highest since 2002 during New York trading. Oil declined, which helped pause the bond selloff, and the dollar strengthened.
Tech carried the risk mood into Asia. Nasdaq 100 futures climbed 0.8% and S&P 500 futures rose 0.4%. Japan's Nikkei jumped 2.7% and South Korea's Kospi rose 1.2% after Micron Technology's upbeat forecast lifted chip stocks.
Alphabet gained 1.5% in extended trading as Google began rolling out Gemini 4 Argon, its new flagship AI model.
A soft inflation print on its own was not enough to keep bitcoin above $85,000 with the 10-year yield near 5.3%. A sustained drop in that yield is the move that would give the next rally room to hold.
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