Bitcoin slips as energy pressure returns

Bitcoin traded around $78,458 at midnight UTC on Wednesday, down 0.83 percent over 24 hours. Ether eased 0.21 percent to approximately $2,485, according to KuCoin's daily snapshot.

US equities had returned from the holiday weekend with losses. The Dow fell 1.18 percent, the S&P 500 0.58 percent and the Nasdaq 0.32 percent, while Brent crude approached $99.50 during the session and the 10-year Treasury yield returned to roughly 4.79 percent.

Higher energy prices added to inflation concerns following the strong employment report. Bitcoin had failed to hold the $79,000 to $80,000 range seen earlier, placing the recovery under renewed pressure alongside traditional risk assets.

The market was facing the same constraint from two directions: expensive energy threatened inflation, while higher yields increased the cost of holding positions that depend on future growth or appreciation.