Bitcoin approaches $84,000 again!

Bitcoin rose on the second day of the week. Investors remained cautious about risky assets amid rising U.S. Treasury yields and tensions between the U.S. and Iran. Bitcoin gained 0.6% to $83,637.1. The cryptocurrency approached $85,000 over the weekend but later declined again. One of the key factors affecting the crypto market is expectations surrounding U.S. interest rates. Rising Treasury yields reduce investors’ appetite for riskier assets. U.S. labor market data due this week could also provide new signals about the Federal Reserve’s future interest rate decisions.

Meanwhile, rising oil prices have increased concerns about inflation. The lack of progress in U.S.-Iran talks and ongoing tensions in the Middle East have created additional risks for markets. Other major crypto assets also rose. Ether gained 1.8% to $2,698.46, while XRP rose 1.6%. Solana, Cardano and BNB showed little change. The report also said that 846 cryptocurrency wallets linked to Iran were investigated, with 84% of them conducting transactions in USDT.