Bitcoin Reclaims $85,000 as Oil and Yields Retreat

Bitcoin (BTC) is defending the $85,500 mark on Tuesday, 22 September, with BTC price trading at $85,736 as a minor -0.97% price correction cools off a bullish move.

This comes after the top cryptocurrency pushed above $85,000 for the first time in eight months and hit its highest level since January.

The question the move forces onto the table isn’t whether Bitcoin can rally on a good day – it’s whether the macro backdrop that just eased is actually turning, or whether traders bought a one-day reprieve from an inflation scare that hasn’t gone anywhere.(Source – TradingView, BTC USD)Why Is Oil Falling and Are Yields Back in Focus?The catalyst was straightforward.

Brent crude had topped $109 a barrel the previous week, and traders read that spike as a direct threat to the inflation outlook – the kind of shock that keeps central banks hawkish and long-dated yields elevated.