Bitcoin Holds Near $78,000 as Rising Oil, Treasury Yields Cap Further Gains

Forecast Trend Report by Period

Bitcoin steadied near $78,000 after surging 24% in August, with higher oil prices and rising U.S. Treasury yields limiting further gains.

CoinDesk reported on September 1 that Bitcoin traded just above $78,400 during Asian hours. It moved between $77,200 and $79,200 over the past 24 hours, showing limited volatility. Bitcoin rose 24% in August, its strongest monthly gain since November 2024.

Major altcoins were mostly weaker. Ether traded slightly above $2,440, while Solana slipped about 1% to near $104. XRP changed hands below $1.40, and BNB traded around $693. Hyperliquid's HYPE token was the outlier, rising about 4% to near $84.

Higher oil prices and bond yields are weighing on the digital-asset market. Brent crude rose about 1% to near $91 a barrel after U.S. military action near the Strait of Hormuz. The yield on the U.S. 10-year Treasury climbed to 4.78%, adding pressure on appetite for risk assets.