crypto traders

Financial markets are under pressure from geopolitical tensions in the Middle East, elevated oil prices and US bond yields at levels last seen in 2007, weighing on risk assets including crypto. Investors are watching upcoming US economic data this week, particularly PCE inflation figures and labour market numbers, which could determine the Federal Reserve's next moves on interest rates.

Bitcoin traders are increasingly positioning for declines as rising US Treasury yields pressure risk assets, with gold also coming under strain from higher borrowing costs. Market watchers say the climb in yields is making safe, yield-bearing assets more attractive, dampening appetite for non-yielding holdings like bitcoin and bullion, and fuelling short-selling activity across crypto markets.

Shares of Circle Internet Group, the issuer of the USDC stablecoin, fell after the company's chief financial officer announced a departure from the firm. The news weighed on investor sentiment in a stock already closely watched as a high-profile crypto-linked listing, with traders reacting to the sudden change in the company's financial leadership.

Riot Platforms shares declined as bitcoin prices softened, with investors also weighing the company's recent debt paydown. The Bitcoin mining firm's stock tends to track the cryptocurrency closely, so the dip reflects broader weakness in digital assets rather than company-specific trouble. Traders are assessing how the balance sheet move, which reduces leverage, positions the company if the crypto slump continues.