Bitcoin (BTC) Price Stuck in Six-Week Range as Global Bond Yields Hit Multi-Decade Highs

The Bitcoin (BTC) price remains confined within a six-week trading range, with the leading cryptocurrency unable to break out amid a challenging macroeconomic backdrop. The primary headwind stems from global bond yields, which have surged to their highest levels in decades. This sharp rise in yields is drawing capital away from risk-on assets like Bitcoin, as investors seek safer, higher-yielding fixed-income instruments. The persistent pressure from rising yields is capping any significant upside for BTC, keeping the digital asset in a state of consolidation. Market participants are closely watching these macroeconomic signals, as a continued climb in bond yields could further extend Bitcoin's period of sideways trading, while any easing in yields might provide the catalyst needed for a breakout.