Bitcoin steadies amid rate pressures

Bitcoin's price stabilized today amid ongoing pressures from rising U.S. Treasury bond yields and tensions between the United States and Iran. It saw only a modest increase of 0.6%, reaching approximately $83,637 after surpassing $85,000 over the weekend. The market was influenced by an optimistic atmosphere regarding financial institutions adopting digital assets, despite concerns related to rising interest rates, expectations of further hikes, and the tensions in the Middle East, all of which put pressure on cryptocurrencies in general. Additionally, a report highlighted the role of the stablecoin USDT in funding Iran, with data indicating that 84% of wallets linked to Iran used this cryptocurrency to support cross-border financing activities. Ethereum, meanwhile, rose by 1.8% to around $2,698.

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