Bitcoin Price Swings Intensify as Bond Rout Hammers Markets

On Tuesday, bitcoin’s price kicked off September with characteristic volatility, swinging on either side of $77,200 or $78,000 amid an intensifying global sell-off in government bonds. The price action came just hours after the cryptocurrency locked in one of its biggest monthly performances of 2026, jumping by almost 25% in August.

Market data shows the cryptocurrency initially looked poised to close Monday trading above $79,000, just hours after trading below $77,800. However, as soon as bitcoin breached $79,000, bears took control again, pushing the price back down to $78,200 two hours before midnight.

The pattern repeated when bitcoin reclaimed $79,000 just after 1 a.m. EST, only to plunge below $77,900 two and a half hours later. The cryptocurrency fluctuated around the $78,000 support level before another sell-off sent it tumbling to $77,578 at 9:40 a.m. By 10:24 a.m. EST, bitcoin had reversed those losses to trade above $78,200—a 0.5% daily gain. Consequently, bitcoin’s market capitalization remained virtually unchanged at $1.57 trillion.

On the derivatives market, the price action narrowed the gap between liquidated long and short bets. Data from Coinglass shows long liquidations reached $33.32 million, compared with $21.7 million in shorts. This contrasted with the broader cryptocurrency market, where liquidated long positions ($102 million) outpaced shorts ($90.6 million).