Bitcoin reached a local high of $81 034 on the Bitstamp exchange during the Friday trading session on Wall Street. This price movement led to the liquidation of short positions across the crypto market, totaling nearly $250 million within a four-hour period.
The asset successfully reclaimed its True Market Mean, which currently stands at $76 660. Analysts note that the cost basis for corporate treasuries is $80 500, a level that reinforces the significance of the current trading range for the cryptocurrency.
Market volatility coincides with rising uncertainty in the global oil sector. US WTI crude prices are hovering around $98 per barrel, while the International Energy Agency warns of potential supply constraints and the need for further demand reductions to balance the market.
The US 30-year bond yield rose by 90 basis points to reach 5.34%. This increase follows recent interest rate hikes by central banks in both the United States and Japan, as global financial institutions respond to shifting economic conditions.
