Altcoins rally as bitcoin holds near $84,000

Bitcoin traded around $84,000 to $85,000 while a broad group of alternative cryptocurrencies moved higher. CoinDesk reported 93 of the 100 assets in its CoinDesk 100 index rising during the session, with Quant among the strongest performers.

The rally came after several volatile days in bonds and crypto. Bitcoin briefly moved above $85,000 before slipping back as the US 10-year Treasury yield remained above 5 percent. Oil and equity markets also moved during reports of progress in US-Iran talks.

The breadth of the altcoin move shows that the session was not simply a bitcoin-led rally. It does not establish a durable change in market leadership: smaller tokens can move more sharply than bitcoin when liquidity and positioning shift.