Bitcoin hovers near $74,000 as tech stocks rally and the US 10-year Treasury yield climbs to 5.02% following hotter-than-expected CPI inflation data.
CoreWeave reported better-than-expected Q3 revenue and lifted its 2026 guidance, and the stock jumped over 20%, leading early gains in the AI sector. A guidance raise plus a revenue beat is a hard positive fact that directly lifts the outlook for the shares.
The 10-year yield hit 5.02% on Wednesday, its highest since Oct. 29, after higher-than-expected CPI inflation, and the 30-year reached 5.378%, last seen Oct. 22. Markets now price a 0.25% Fed rate hike in December with rising odds of 0.5%. This is a clear, data-driven repricing of the rate path that should keep upward pressure on yields.
WTI gained 1.4% to $87.70 per barrel, rebounding from Tuesday's drop to $84, as optimism faded over a diplomatic solution to the US-Iran war and attacks on ships in the Strait of Hormuz continued. Analysis notes flows would still face hurdles like mine clearance and insurance costs even after a deal, supporting prices.
Brent gained 1.5% to $93.40 per barrel amid the US-Iran conflict and ongoing attacks on shipping through the Strait of Hormuz. With LSEG analysis pointing to practical hurdles to restoring pre-conflict traffic even after a deal, supply risk keeps upward pressure on the price.
Bitcoin stayed stuck near $74,000 between the 21-week ($73,078) and 50-week ($75,492) moving averages and failed to follow the tech-stock rally. Hot CPI pushed the 10-year yield back to 5%, a hawkish Fed backdrop that weighs on crypto. Short-term holders moved over 47,000 BTC to exchanges at a loss on Tuesday, signaling potential panic selling.
Bitcoin remains range-bound between $73,078 and $75,492 as investors pivot to tech stocks. While CoreWeave shares surged over 20% on strong earnings, rising US bond yields and inflation concerns continue to weigh on crypto sentiment.
The stock jumped over 20%, gaining as much as 21%, after reporting better-than-expected Q3 revenue and lifting its 2026 guidance.
Tuesday's Consumer Price Index came in above expectations, and the market now expects the Federal Reserve to hike rates in December, possibly by 0.5%, pushing the yield to a high of 5.02% on Wednesday.
WTI was up 1.4% on the day at $87.70 per barrel after dropping to $84 on Tuesday, its lowest since late August.
Brent gained 1.5% on the day to $93.40 per barrel as Middle East shipping risk persisted.
The article shows BTC/USD diverging from US equities, which rallied on dip-buying in tech, while Bitcoin stayed in a narrow range between roughly $73,078 and $75,492 as hot inflation data pushed bond yields higher.
Yes, short-term holder wallets sent over 47,000 BTC to exchanges at an unrealized loss on Tuesday, which the article says could signal increased panic selling if those coins were sold.