Bitcoin hovers near $74K as stocks rise despite US bond yield rebound

Bitcoin (BTC) circled $74,000 at Wednesday’s Wall Street open as stock markets rallied and US bond yields surged.

Key points:

• Bitcoin failed to follow US stocks higher as CoreWeave gained up to 21% after beating Q3 revenue estimates.
• The US 10-year bond yield hit a high of 5.02% on the back of higher-than-expected US CPI inflation.
• BTC traded in a narrow range between its 21-week and 50-week trend lines at $73,078 and $75,492, respectively. 

Tech stocks rise while 10-year yield returns to 5%

Data from TradingView showed BTC/USD diverging from US equities as investors resumed buying the dip in tech stocks.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The AI sector led the day’s early gains, with cloud-computing company CoreWeave jumping over 20% after reporting better-than-expected Q3 revenue and lifting its 2026 guidance.

CoreWeave stock one-hour chart. Source: Cointelegraph/TradingView

Nvidia, which suffered on Monday and Tuesday amid ongoing controversy over CEO Jensen Huang, opened around 2.5% higher.

Nvidia stock one-hour chart. Source: Cointelegraph/TradingView

Oil prices, meanwhile, gained on the day amid fading optimism over a diplomatic solution to the US-Iran war. As attacks on ships traversing the Strait of Hormuz continued, analysis pointed to several practical hurdles to restoring pre-conflict traffic levels, even if a deal is reached.