Bitcoin returns to $81,000 as oil worries lift US bond yields
Bitcoin climbs back above $81,000
Bitcoin rose past $80,000 as Wall Street trading opened on Friday, September 18, reaching a local high of $81,034 on the Bitstamp exchange. The move came as fresh worries about global oil supply pushed US bond yields back up.
The largest cryptocurrency gained about 6% over the day. The jump was strong enough to force traders who had bet on a price drop to close their positions, a process known as liquidation.
Key numbers
- Bitcoin gained 6% on Friday and reached $81,034 on Bitstamp.
- Roughly $250 million in short positions were liquidated across crypto markets in four hours.
- The US 30-year bond yield reached 5.34%, up 90 basis points on the day.
- US WTI crude oil fell to $94.8 per barrel before recovering to around $98.
Oil supply strain pushes yields higher
US WTI crude dropped to a low of $94.8 per barrel, then began climbing again during the Asian trading session. At the time of writing, it was trading around $98.
In a report published Friday, the International Energy Agency (IEA) warned that countries may have no choice but to cut oil usage. In March, the agency released 400 million barrels from its emergency reserves after the closure of the Strait of Hormuz, a major shipping route for oil.
The IEA said oil prices had eased from their April peaks as emergency stocks were released, alternative routes boosted Middle East exports, producers outside the region raised output, Persian Gulf flows partially recovered, and global demand softened. But it added that if Gulf supplies remain constrained in the coming months and commercial inventories keep depleting rapidly, "higher prices and further demand reductions may be required to close the supply-demand gap."
The report calculated oil flows through the Strait of Hormuz at 7.6 million barrels per day in August, which is 13.1 million barrels below the daily level seen before the US-Iran war.
US bond yields, the return investors receive for holding government debt, rose again amid the oil uncertainty. The 30-year yield reached 5.34%, up 90 basis points. Cointelegraph previously reported that rising yields in several countries have forced central banks to raise interest rates, a step taken in both the US and Japan this week.
What analysts are watching
Trader and analyst Rekt Capital described the current setup as a "moment of truth" for buyers. A chart he shared showed $82,000 as the key level for Bitcoin to break through. He warned that failing to do so would form a double rejection pattern, matching the price action that ended the rebound in mid-May.
On-chain analytics platform Glassnode noted that Bitcoin has reclaimed its True Market Mean, the average price paid for all coins bought on secondary markets, which currently sits at $76,660. "That puts price back above a crucial level and back into a bullish regime," Glassnode told followers on X.
The average cost basis for Bitcoin held by corporate treasuries is $80,500, close to the current price range, which adds to the significance of the level Bitcoin is now testing.
What is confirmed
The price move, the liquidation figure, the IEA's numbers, and the bond yield level are all drawn from market data cited in the source. The comments from Rekt Capital and Glassnode are genuine statements from their posts on X.
What is still unclear
Whether Bitcoin can break above $82,000 remains an open question, and Rekt Capital's "moment of truth" framing is an analyst opinion rather than a confirmed outcome. The IEA's warning about further demand cuts is also conditional, applying only if Gulf supplies stay constrained and commercial inventories keep falling.
Why it matters
The move shows how closely crypto markets are tracking traditional economic forces. A single day of oil supply worries was enough to move bond yields, which coincided with a sharp Bitcoin rise and hundreds of millions of dollars in liquidations. Bitcoin's return above key cost-basis levels, as highlighted by Glassnode, also suggests a shift in market structure rather than just a brief bounce.
What happens next
Traders will be watching whether Bitcoin can push through the $82,000 level flagged by Rekt Capital. The IEA said further demand reductions may be needed if Gulf supply constraints persist, which would keep pressure on oil prices and bond yields.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.