What happened
Bitcoin held around $84,000 (trading at $83,136.60) as rising bond yields were countered by persistent institutional buying. US 10-year Treasury yields climbing above 5.2% created headwinds for non-yielding assets. However, US spot Bitcoin ETFs recorded $2.65 billion in net inflows across five consecutive sessions, led by BlackRock's IBIT and Fidelity's FBTC. Additionally, SEC Commissioner Hester Peirce announced her departure effective October 2.
Why it matters here
The interplay between macro bond market pressure and institutional ETF demand highlights a maturing market structure for Bitcoin. For Australian retail and SMSF investors holding crypto exposure, steady net inflows into spot ETFs offer structural price support. However, elevated global interest rates remain a key risk factor that could cap broader upside across digital asset markets.
What to watch
Track daily spot ETF net inflow numbers and watch for regulatory policy signals following Commissioner Peirce's departure from the SEC on October 2.
Source
au.investing.com