Bitcoin holds $83,000 as ZEC drops 12% and oil climbs again

Bitcoin holds $83,000 — Bitcoin held near $83,100 on Tuesday as rising oil prices and Treasury yields fueled inflation concerns and weighed on broader digital asset markets.

Global stocks fell to a one-week low as Brent crude oil prices climbed for a second consecutive day. Traders increased bets on further Federal Reserve rate hikes ahead of Wednesday’s key Personal Consumption Expenditures (PCE) inflation data release.

The 10-year U.S. Treasury yield touched its highest level since 2007, contributing to the risk-off sentiment. The total cryptocurrency market capitalization held near $2.86 trillion despite the pressure.

Among major altcoins, Zcash (ZEC) led losses with a 12% drop to approximately $1,380. Solana (SOL), Hyperliquid (HYPE), Dogecoin (DOGE), and BNB each posted losses between 2% and 4%. Ethereum and Tron traded flat, while The Graph (GRT) bucked the trend with an 18% gain.