Bitcoin drops below $77,000 as risk appetite weakens

The world’s largest cryptocurrency last traded 1.5% lower at $76,946.6, its lowest level since May 1

Bitcoin dropped below $77,000 on Monday, extending weekend losses as surging global bond yields and rising oil prices linked to escalating Iran tensions weakened appetite for riskier assets.

The world’s largest cryptocurrency last traded 1.5% lower at $76,946.6 by 04:54 GMT, its lowest level since May 1.

Bitcoin briefly jumped above $80,000 last week but failed to sustain momentum.

Investors were cutting exposure to speculative assets amid mounting fears that higher energy prices could fuel global inflation and keep interest rates elevated for longer.

Oil prices jumped above $110 per barrel on Monday following reports of drone incidents in the United Arab Emirates and stalled diplomatic efforts over Iran.

Rising energy prices triggered a broad selloff in government bonds, sending the benchmark U.S. 10-year Treasury yield to its highest level since early 2025.

Traders have scaled back expectations for U.S. central bank interest rate cuts, and now see rates largely unchanged through most of 2026, while futures markets have begun reflecting growing chances of a rate hike this year.

The jump in yields hurt demand for cryptocurrencies and other high-growth assets by increasing the attractiveness of safer fixed-income investments.

U.S. President Trump on Sunday said that “time is ticking” for Iran to reach an agreement with Washington, raising concerns about a deeper regional conflict and continued disruptions to global oil supply routes.

Bitcoin has struggled to sustain momentum above the $80,000 level despite continued institutional interest and inflows into spot Bitcoin exchange-traded funds.

Investors were also cautious ahead of Nvidia earnings later this week, which could influence risk sentiment across local financial markets.