Bitcoin (BTC) slipped to $75,560 on Tuesday, marking its lowest price in September. The decline erased a brief rally to $79,600 the previous day and pushed the BTC/USD pair below the $76,000 threshold as Wall Street opened.
Across major economies, sovereign bond yields surged to levels not seen in decades. The US 10‑year Treasury yield breached 5.0% for the first time since November 2023, climbing to 5.041%, a peak last observed in June 2007. An average of the 10‑year yields of the world’s seven largest economies rose to 4.285%, the highest since mid‑2008. In the United Kingdom, the 30‑year gilt reached 5.95%, a level last recorded in March 1998, while Japan’s 10‑year JGB hit 3.04%, its highest in 30 years.
The price move unfolded ahead of a procedural vote in the US Senate on the CLARITY Act, scheduled for 2:15 p.m. Eastern time. The legislation, which would clarify the regulatory responsibilities of the SEC and CFTC, requires a 60‑vote threshold to advance to a floor debate. Market participants view the odds of passage as low; a Polymarket poll placed the probability of the act becoming law in 2026 at 14%.
Trading firm QCP Capital noted that, even if the procedural vote passes, the impact on crypto markets would be limited and would represent only one of several regulatory hurdles. The Kobeissi Letter, a market commentary service, projected that central banks are likely to tighten policy further, with the Federal Reserve expected to raise its benchmark rate by 0.25% on Wednesday and the Bank of Japan anticipated to follow suit on Friday.
Commodity markets added to the inflation backdrop, as West Texas Intermediate crude oil approached $105 a barrel, its highest level since early May. Analysts linked the bond‑yield surge to renewed inflation concerns stemming from elevated oil prices and geopolitical tensions in the Middle East.
