Bitcoin reaches $82,026 while Michael Burry compares tech valuations to the dot-com era amid rising oil and yields.
Bitcoin briefly climbed to $82,026 overnight, holding above $81,000 as major altcoins like solana and dogecoin also advanced. The move came despite broader risk-asset pressure after investor Michael Burry warned of overstretched valuations in the Nasdaq 100.
Burry, known for predicting the 2008 housing crash, said the Nasdaq 100 trades at 43 times earnings, far above its historical average of 30 times. He highlighted the Philadelphia Semiconductor Index’s 70% rally since March as evidence of a parabolic surge in tech stocks.
Rising oil prices above $105, higher Treasury yields, and U.S.-Iran tensions added to macro uncertainty ahead of a key U.S. inflation report Tuesday. Crypto markets remained resilient despite the broader risk-off sentiment.