Bitcoin is trading near $64,000 after rebounding from Monday’s $62,600 low, but the recovery has slowed as higher Treasury yields and rising oil prices pressure global risk assets.

BTC has declined about 0.6% since midnight UTC, while Nasdaq 100 futures are down roughly 1.1%. Ether has fallen close to 1%, with SUI, XLM and TAO also moving lower.

U.S. Treasury yields are rising ahead of the Federal Reserve’s July meeting minutes, which are due Wednesday. Investors are looking for clues about future monetary policy after two softer-than-expected inflation readings. Brent crude has climbed back toward $94 a barrel following the expiration of a 60-day U.S.-Iran ceasefire on Monday without a new agreement.

Another potential catalyst arrives Wednesday, when President Donald Trump is expected to meet crypto executives at the White House. U.S. regulatory and policy developments have increasingly influenced crypto markets, helping keep Bitcoin locked in a volatile trading range.

Bitcoin Futures Show Growing Bullish Interest

Derivatives data suggests traders are becoming more optimistic about Bitcoin following its outperformance of U.S. stocks on Monday.

Long trades take the lead: The long-short taker volume ratio in crypto futures shifted decisively toward buyers, with long positions accounting for more than 51% of taker activity. Takers execute trades at available market prices, removing liquidity from order books.

Funding rates reach a 20-month peak: CryptoQuant data shows annualized perpetual funding rates for BTC have climbed to their highest level in around 20 months. Positive funding means perpetual contracts trade above the spot market, indicating stronger demand for long positions.

BTC open interest remains steady: Bitcoin futures open interest continues to sit around 750,000 BTC and has remained close to that level for several weeks.

SOL futures activity rises: Open interest in Solana futures increased to 66.88 million SOL, the highest since July 10. Funding rates remain near neutral.

XLM traders lean bearish: XLM has dropped nearly 3% to about $0.15 since midnight, reaching its lowest price since May 27. Open interest in XLM futures has risen 3.5% over the past 24 hours, reaching its highest level since June 4. Annualized funding at -28% points to strong short positioning, while negative OI-adjusted CVD indicates aggressive selling through market orders.

CC, DOGE and SUI also recorded increases in futures open interest, while HBAR and CRO saw notable declines.

Bitcoin Shows Stronger Buying Pressure

The broader crypto market is not displaying the same bullish momentum as Bitcoin.

BTC’s 24-hour cumulative volume delta remains positive, signaling stronger aggressive buying. ETH, SOL, LTC, LINK and DOGE have negative CVD readings, suggesting that bullish activity is concentrated in Bitcoin.

Low volatility may also be encouraging fresh positioning. Thirty-day implied volatility for Bitcoin and Ether remains close to its lowest levels of the year.

Trading firm TDX Strategies said the subdued volatility environment could provide an opportunity for tactical positioning through December options on Bitcoin and selected altcoins such as SOL and HYPE.

Options Traders Target Higher Prices

Deribit data continues to show demand for Bitcoin and Ether call options.

The $70,000 BTC call expiring Sept. 25 was the most actively traded Bitcoin option over the previous 24 hours. For Ether, the $2,080 call expiring Aug. 28 led trading volume.

Altcoins Deliver Mixed Results

PUMP rose 1.31%, holding onto part of Monday’s 7.8% rally. Daily trading volume jumped 55% during that move to around $90 million, with the token now stabilizing above $0.00277.

XMR gained 0.59% to roughly $417, pushing its seven-day advance above 11%. Monero remains among the strongest performers of August.

SUI was the biggest decliner, falling 4.62% to approximately $0.6436 after reversing some of its recent outperformance among layer-1 cryptocurrencies.

FET dropped 2.10% to around $0.1213, extending its decline as AI-related tokens continue to surrender some of their late-July gains.

LINK fell 1.45% to $9.39, giving back part of the rally that followed Standard Chartered’s forecast for a potential 2,000% increase by 2030. Despite the pullback, LINK remains about 8% above its level before the forecast.