Bitcoin gives back gains as long-term holder supply keeps $85K out of reach

Bitcoin failed to make another run at $85,000 as sellers held the line above current levels, while surging US bond yields weighed on stocks and precious metals.

Bitcoin (BTC) reversed its latest gains after Tuesday’s Wall Street open as US bond yields continued to set multidecade highs.

Key points:

Data from TradingView showed a local rally to $84,540 stalling as the US trading session began, with BTC/USD retreating below its daily opening level near $83,600.

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