Bitcoin fell to its lowest level since May as geopolitical risks and rising Treasury yields weighed on cryptocurrency markets.
Bitcoin dropped to a May low early Monday, pressured by President Donald Trump’s latest threats against Iran and a sharp rise in the 10-year Treasury yield to its highest level in nearly a year. The decline followed weekend trading as investors reacted to escalating geopolitical tensions and shifting bond market dynamics.
Cryptocurrency stocks showed mixed performance, with HIVE Blockchain Technologies surging after H.C. Wainwright upgraded its rating and raised its price target. Circle Internet Financial also benefited from the upgrade, offsetting broader weakness in the sector. Earlier in May, crypto-related equities rallied after the Senate Banking Committee advanced the Clarity Act in a bipartisan vote.
The market reaction underscored the sector’s sensitivity to macroeconomic and geopolitical developments, as well as regulatory progress. Bitcoin’s decline contrasted with gains in select crypto stocks, reflecting divergent investor sentiment.