What happened
Bitcoin traded around US$84,000 (US$83,136), coming under pressure as the 10-year US Treasury yield surpassed 5.2%, its highest mark since 2007. Selling pressure was offset by institutional demand, with US spot Bitcoin ETFs pulling in US$2.65 billion over five consecutive trading sessions, led by BlackRock's IBIT and Fidelity's FBTC.
Why it matters here
High bond yields increase the opportunity cost of holding non-yielding risk assets like cryptocurrencies. However, sustained institutional ETF inflows indicate robust structural demand from global fund managers, establishing a strong liquidity buffer for Bitcoin even as regulatory leadership shifts at the US Securities and Exchange Commission.
What to watch
US Treasury yield movements and weekly spot Bitcoin ETF net inflow reports.
Source
au.investing.com