[Bitcoin Falls Below $80,000 After Surging: Gold Retreats in Tandem, Market Focus Shifts to PCE and Nvidia Earnings] BlockBeats News, August 25: On Tuesday, Bitcoin surged to $81,265 before retreating, briefly dropping to $78,111 and losing the $80,000 threshold again. Gold also weakened in tandem, with spot gold falling nearly 2% to $4,605 per ounce after previously rising to $4,697, marking a new high since mid-May. Market trends indicate that the decline in U.S. Treasury yields did not continue to drive Bitcoin and gold higher; instead, a divergence emerged with U.S. stocks strengthening while cryptocurrencies and gold weakened. The S&P 500 Index rose 0.2%, and the Nasdaq Index gained 0.5%. Meanwhile, the yield on the U.S. 30-year Treasury bond fell below 5.2%, approaching its lowest level since August 7. Analysts believe that recent changes in U.S. Treasury yields remain a key driver for the crypto market. The U.S. Treasury Department recently expanded long-term Treasury bond buybacks to alleviate upward pressure on long-term yields, but in the current inflationary environment, the Federal Reserve's room for rate cuts remains limited. Currently, the market estimates a 61.9% probability that the Federal Reserve will keep rates unchanged in September. In the short term, market attention is shifting from U.S. Treasury yields to the July U.S. PCE inflation data and the Jackson Hole Symposium. Nvidia is set to release its earnings report after the market closes on Wednesday, which could also serve as a new catalyst for volatility in risk assets. [Original Link]