Bitcoin Steady at $84K Amid High Treasury Yields and ETF Inflows
- Bitcoin traded around $84,000 on Tuesday, up by 0.9% over the day but down by 2% for the week.
- Spot Bitcoin ETFs have seen eight consecutive sessions of inflows totaling approximately $3 billion.
- The U.S. Treasury yield reached its highest since June 2007, with the ten-year peaking at 5.274% and the thirty-year at a level last seen in 2002.
- Futures markets estimate a probability of a Federal Reserve rate hike in October at about 70.3%, up from last week’s estimate of around 55.4%.
Despite external pressures from high treasury yields and fluctuating oil prices, Bitcoin remains stable within a narrow trading range between $82,000 and $84,000 for over a week, supported by institutional demand reflected in sustained ETF inflows.
The continued inflow into Bitcoin ETFs highlights ongoing institutional interest despite broader market volatility, with Bitcoin maintaining resilience amid macroeconomic challenges such as rising treasury yields and potential Fed rate hikes.( Source )
