Bitcoin advanced to an 11-week high of $72,505 on Bitstamp on Thursday, extending a four-day rally that lifted the cryptocurrency more than 4% in a single session. The move came as U.S. equities slipped and Treasury yields reversed prior declines following President Donald Trump’s warning of sweeping economic measures against Iran.
Trump said the U.S. would pursue “economic warfare and isolation on an unprecedented scale” in response to Iran’s actions affecting the Strait of Hormuz oil route, a statement that briefly pushed WTI crude to $87.69 per barrel, its highest since late July. The comments also triggered a rebound in U.S. government bond yields, which had fallen sharply the previous day after the Treasury announced plans to at least double its bond-market liquidity interventions starting in September.
The 30-year Treasury yield, which had dipped to 5.179%, climbed back to 5.266%, a gain of 9 basis points that nearly erased the prior session’s decline. The 10-year yield followed a similar pattern, reversing course after earlier losses. Analysts at The Kobeissi Letter cautioned that the Treasury’s measures may prove insufficient, noting that additional intervention could be required to stabilize markets.
Market participants remained divided on the durability of Bitcoin’s recent gains. After surging nearly $10,000 over four days, traders questioned whether the rally could be sustained. Rekt Capital, a pseudonymous analyst, noted that Bitcoin would need to extend gains further to challenge bear-market resistance, warning that technicals still point to $60,000 as a weakening macro support level. Four-year cycle analysis suggests any new macro low could occur before the end of 2026.
On-chain data from CryptoQuant indicated a tentative revival in Bitcoin demand across both spot and derivatives markets, a trend not observed since October 2025 when BTC last reached an all-time high near $126,200. Ki Young Ju, the platform’s CEO, described the uptick as modest but potentially significant if sustained for another month, which could signal the end of the bear market and the start of a new bull cycle.
