Bitcoin Dips Below $77K as Treasury Yields Rise and ETF Outflows Surge
- The U.S. Treasury yield for the ten-year note reached a high of 4.63%, marking a significant increase of 70 basis points since the onset of the Iran War.
- Spot Bitcoin ETF outflows hit $1 billion for the week ending May 15, the largest weekly exit since January.
- Bitcoin prices fell to a three-week low, trading around $76,770, with crypto market liquidations exceeding $672 million.
- Analysts identify $77,000 as a critical threshold for Bitcoin, with potential for further decline if broken.
Rising U.S. Treasury yields are impacting risk appetite in financial markets, leading to substantial outflows from Bitcoin ETFs and contributing to significant liquidations in the crypto sector. The bond market’s volatility is exerting pressure on Bitcoin prices as institutional channels increasingly influence cryptocurrency dynamics.
