Bitcoin swings around $78,000 as U.S. long-term yields rattle markets

[DigitalToday reporter Yoonseo Lee] With U.S. long-term Treasury yields surging, Bitcoin is repeatedly swinging sharply around the $78,000 level. It is increasing volatility ahead of the monthly close.

On Aug. 31 local time, Cointelegraph reported that Bitcoin moved in a narrow range near $78,000 around the time U.S. stocks opened, while showing a sharp intraday rebound.

Bitcoin showed weakness early in U.S. trading and then rebounded. U.S. Treasury Secretary Scott Bessent (스콧 베센트) was cited as a factor behind heightened short-term volatility after he suggested the possibility of intervening in the long-term Treasury market in a CNBC interview. Bessent said steps to support the 10-year and 30-year, the long end of the yield curve, had not yet been implemented and said, "We haven't bought anything yet." He also said it was fine that yields rebounded after related remarks.

The U.S. Treasury has announced it will roughly double its debt buyback size to $4 billion from September. Yields fell at the time, but the 10-year yield rose to as high as 4.76 percent on the day, returning to the highest level since January 2025. The 30-year yield stood at 5.269 percent, nearing its high since January 2007 by a margin of 6 basis points.