The world’s largest cryptocurrency was trading down 1.5% at $76,946.6 as of 07:54 Moscow time, its lowest level since May 1, according to investing.com.
Bitcoin briefly climbed above $80,000 last week, but failed to keep the momentum going.
Bond yields rise amid inflation fears over oil
Investors cut back on speculative assets amid growing concerns that rising energy prices could stoke global inflation and keep interest rates high for longer than expected.
Oil rose above $110 a barrel on Monday after reports of drone incidents in the UAE and the disruption of diplomatic talks on Iran.
The rise in energy prices triggered a large-scale sell-off in government bonds: the yield on benchmark 10-year U.S. Treasury bonds reached its highest since the beginning of 2025.
Traders have significantly lowered expectations of a Federal Reserve rate cut and now forecast that rates will remain largely unchanged through most of 2026, while futures markets have begun to price in the growing likelihood of a rate hike this year.
Rising yields have reduced the appeal of cryptocurrencies and other high-risk growth assets, increasing the competitiveness of more reliable fixed income instruments.
U.S. President Donald Trump warned on Sunday that “time is running out” for Iran to reach an agreement with Washington, heightening fears of a deepening regional conflict and continued disruption to global oil supply routes.
Bitcoin remains unable to consolidate above the $80,000 mark despite continued institutional interest and inflows into spot Bitcoin ETFs.
Investors were also cautious ahead of the release of Nvidia’s financial results this week, which could affect the overall sentiment in financial markets.
Cryptocurrencies today: altcoins decline amid risk aversion
Most altcoins also fell on Monday, following the general risk-aversion sentiment.
Ethereum, the second-largest by capitalization, lost 3% to trade at $2,122.12.
XRP, the third-largest cryptocurrency, fell 1.5% to $1,395.
Solana lost 2%, while Cardano and Polygon were down 1.5% each.
Among meme tokens, Dogecoin fell 2.8%.
