Bitcoin has failed to rebound around the $77,000 level amid the prolonged Middle East war and rising U.S. Government Bonds yields.
According to global virtual asset tracker CoinMarketCap on the 19th, bitcoin was trading at $77,702 as of 8:40 a.m., down 0.22% from the previous day. The day before, it fell to as low as $76,009 intraday, the lowest in about two weeks, before edging higher.
Major altcoins were mixed. At the same time, Ripple (XRP) fell 0.53% from the previous day to $1.39. Ethereum rose 0.85% to $2,132.09, and Solana (SOL) rose 0.35% to $85.45.
Risk appetite for risk assets weakened significantly due to Middle East geopolitical risks. U.S. President Donald Trump said on his social media "Truth Social" that he had prepared to resume military operations against Iran but put them on hold, keeping tensions between the United States and Iran elevated.
The U.S. 30-year Government Bonds yield breaking 5% for the first time in 19 years also added pressure. Typically, when rates rise, preference for safe assets strengthens, while preference for risk assets such as stocks and bitcoin weakens.