Bitcoin hits $81K as US bond yields rebound on global oil woes

Bitcoin (BTC) jumped past $80,000 around Friday’s Wall Street open as fuel-crisis woes spread through global markets.Key points:Bitcoin gained 6% on Friday as concerns about oil supply saw US bond yields reverse higher.Crypto markets liquidated $250 million in short positions over four hours.BTC price momentum now faces the familiar resistance levels first encountered in May.BTC surges 6% as US bond yields turn upwardData from TradingView showed BTC/USD filling pockets of upside liquidity to reach local highs of $81,034 on Bitstamp.BTC/USD four-hour chart. Source: Cointelegraph/TradingViewA cluster of short positions above the spot price came under fire as a result. Per data from CoinGlass, cumulative cross-crypto short liquidations sat near $250 million over four hours.BTC liquidation heatmap. Source: CoinGlassUS WTI crude fell to lows of $94.8 per barrel, only to begin climbing again during the Asia trading session. It is circling $98 at the time of writing.CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingViewIn a report on Friday, the International Energy Agency (IEA) warned that countries may have no choice but to cut usage. In March, the IEA released 400 milli...