Bitcoin Hits $81,034 Amid Bond Yield Spike
Bitcoin gained six percent to reach $81,034 as rising oil prices pushed 30-year Treasury yields to 5.34 percent, triggering a $250 million short squeeze.
Bitcoin reached a local high of $81,034 on Bitstamp during Friday's trading session. The asset gained approximately six percent in a single day. This move broke through the $80,000 threshold. The rally was driven by a rapid unwinding of bearish positions.
US Treasury yields moved sharply higher as a result of energy market volatility. The 30-year yield reached 5.34 percent. This represented a 90 basis point increase for the day. Traders adjusted their expectations for inflation and central bank policy in response to rising crude oil prices.
Short Liquidations Fuel Price Surge
Derivatives data from CoinGlass shows significant activity in the options market. Cumulative cross-crypto short liquidations approached $250 million. This event occurred within a four-hour window. Forced unwinding of leveraged positions created a feedback loop.
Stop-loss triggers and margin calls pushed spot prices higher. This intensified the rally in the near term. The liquidation cascade amplified upward momentum across digital asset markets. Bearish bets were aggressively removed from the order books.
Oil Supply Constraints Drive Yields
WTI crude oil traded down to $94.8 per barrel before rebounding. Prices approached the $98 area during Asian trading hours. The International Energy Agency issued a warning on global supply. The agency cautioned that countries may need to reduce consumption.
Oil moving through the Strait of Hormuz stood at 7.6 million barrels per day in August. This volume is 13.1 million barrels below the pre-war daily average. The IEA noted that earlier emergency measures eased prices temporarily. Strategic reserve releases contributed to that initial relief.
Technical Levels Define Next Move
Analysts identify $82,000 as a critical breakout level. Failure to clear this mark could produce a double rejection pattern. This structure mirrors the market action that ended the mid-May rebound. Sustained follow-through depends on buyer defense of this zone.
Bitcoin reclaimed its True Market Mean according to Glassnode. This benchmark was placed at $76,660. The price advance moved the asset back into a bullish regime. This on-chain metric confirms the shift in market sentiment. GN auto markets/bonds reported the bond trading volatility that triggered these events.
