Bitcoin traded near $64,000 on Tuesday, holding most of its gains from the previous session even as a surge in long-term U.S. Treasury yields and oil prices weighed on risk appetite across global markets.
The largest cryptocurrency was changing hands around $64,100, according to CoinMarketCap data, after rallying from roughly $62,600 on Monday. Ether slipped about 1% to trade near $1,895, while major altcoins showed a mixed picture. Solana gained 1.67% to $77.07, while Binance Coin fell 0.26% to $603.19 and Hyperliquid dropped 1.45% to $58.44.
The resilience in bitcoin came as the 30-year U.S. Treasury yield climbed to 5.33% intraday, the highest level since 2007. The benchmark 10-year yield hovered around 4.71%, near its highest since January 2005. The rise in yields reflected renewed inflation concerns after the expiration of a 60-day U.S.-Iran ceasefire without a deal, which pushed Brent crude back toward $94 a barrel.
"The increase in yields reflects unease ahead of the Federal Reserve minutes release due Wednesday," market participants noted, pointing to the upcoming publication of the July 28-29 FOMC meeting minutes following two consecutive softer inflation prints.
White House Crypto Summit in Focus
Investor attention is also trained on Washington, where President Donald Trump is expected to host cryptocurrency industry executives at the White House on Wednesday. The guest list reportedly includes representatives from Coinbase, Ripple, and venture capital firm Andreessen Horowitz (a16z).
The administration's generally pro-crypto posture has been a key driver of price action in recent months, contributing to what traders describe as the stop-start nature of bitcoin's range-bound performance. The meeting comes as policy considerations increasingly intersect with market dynamics, with U.S. regulatory direction seen as a potential catalyst for the next leg of the digital asset cycle.
Derivatives Show Selective Bullishness
Futures market data painted a picture of concentrated optimism in bitcoin rather than broad-based enthusiasm across the crypto complex. The long-short taker volume ratio in crypto futures flipped decisively from neutral to bullish, with longs accounting for more than 51% of flow. Annualized perpetual funding rates surged to a 20-month high, according to CryptoQuant, signaling that traders are aggressively chasing bullish bets on bitcoin.
