Bitcoin slightly lower, set for 5-day losing streak

It had jumped above $82,000 last week on resilient ETF inflows

Bitcoin had ticked slightly lower on Tuesday, and was nursing a four-day losing streak that could potentially turn into five, as risk sentiment took a hit amid no signs of progress in U.S. and Iran peace talks and a global bond sell-off.

Bitcoin was last down 0.2% to $76,985.7 by 21:30 GMT. It had jumped above $82,000 last week on resilient ETF inflows and after the U.S. Senate advanced key legislation.

The world’s largest cryptocurrency continues to trade within a complex macro environment where ETF inflows, regulatory developments, and institutional accumulation remain supportive, while geopolitical tensions, inflation concerns, and broader risk-off sentiment continue generating sharp swings in price action, IG analysts said in a recent note.

The U.S. and Iran remain mired in an impasse, with no signs of a breakthrough on any agreement to end hostilities despite President Donald Trump saying he would delay a planned attack on the nation.

Trump on Tuesday told reporters that he was “an hour away” from striking Iran on Monday. It would have been happening right now, the president said.

Bitcoin was also under pressure on Tuesday as bond sell-off resumed both at home and across the globe. Yields have soared across the world and several benchmark instruments have set “highest ever” milestones as traders have raised their expectations of interest rate hikes by central banks to combat the inflationary shock emerging from surging oil prices. Higher interest rates generally tend to bode poorly for speculative assets like cryptocurrencies.

The bond market rout comes at a time of transition for the U.S. central bank, which is awaiting the swearing in of new chair Kevin Warsh, picked by Trump to succeed Jerome Powell.