Live updates: Bitcoin rebounds above $84,000 as Treasury yields steady
Ether led a modest recovery among major tokens, while ZEC extended its slide and its U.S. fund posted the only outflow among crypto ETFs on Monday.
Bitcoin rose 1% to just above $84,200 on Tuesday, finding buyers on dips to about $82,500 as the 10-year Treasury yield held near 5.25% after Monday's climb to its highest level since 2007, CoinDesk data show.
Ether led the majors, up 2% to nearly $2,720. DOGE added 3% and XRP 2%, while BNB, SOL and TRX each gained under 1%. HYPE slipped 1%. ZEC was the outlier, down 9% to about $1,423.
U.S. spot bitcoin ETFs took in about $31 million on Monday and ether funds about $17 million, according to SoSoValue, with SOL and XRP funds adding a combined $17 million. The lone U.S. ZEC fund posted the only net outflow, losing about $8 million.
"At the $2.87T level, cryptocurrencies are cautiously forming a rebound from last week's lows near $2.83T. However, as long as the market remains below $2.90T, it is technically in a short-term downtrend. The strengthening US dollar and uncertainty in the equity markets are adding to the unease," Alex Kuptsikevich, chief market analyst at FxPro, said in an email to CoinDesk.
"The short-term working scenario is that BTC has found support on a pullback to previous highs, having cooled off sufficiently following the growth momentum. A sustained bullish sentiment paves the way for new multi-month highs above $87K," he added.
Asanat Analysis — Why it matters
Bitcoin's rebound above $84k against a backdrop of stabilizing Treasury yields signals renewed risk appetite after a pullback phase. The correlation between macro rates and crypto prices remains structurally intact—as long as yields hold rather than spike, equity-risk assets including digital assets maintain bid support. This pattern has held through most of 2024-2025, making the Treasury complex a leading indicator for directional bias in crypto markets.
Ether's outperformance relative to Bitcoin in this recovery is noteworthy given the recent narrative around AI competition and Ethereum's scaling challenges. The divergence suggests institutional buyers may be rotating into Layer 1 assets independent of the macro picture, or that ETH strength reflects option expiry dynamics or venue-specific liquidity rather than fundamental conviction. ZEC's continued weakness stands out—privacy coins have faced regulatory headwinds and exchange delisting pressure, making outflows from its fund a symptom of structural positioning risk rather than cyclical rotation.
The crypto ETF flow data—with only ZEC showing redemptions—indicates modest conviction in the broader recovery but not euphoria. This measured inflow pattern is consistent with a market digesting previous volatility rather than capitulating or breaking out decisively.