Overview
- Bitcoin fell to about $79,000 Friday after Treasury yields hit their highest levels in roughly a year and major stock indexes turned lower.
- The day before, the Senate Banking Committee advanced the Clarity Act on a 15–9 vote, Bitcoin briefly topped $82,000, and spot Bitcoin ETFs logged $131.3 million in net inflows for May 14.
- Oil prices climbed as the Iran conflict kept pressure on supply routes, with Brent above $108 and the U.S. 10‑year yield around 4.55% and the 30‑year above 5.1%, pushing traders to price a greater chance of a Fed rate hike by year‑end.
- Derivative stress built as Coinglass counted about $440 million in liquidations over 24 hours, and CryptoSlate reported U.S. spot Bitcoin ETFs on pace for the largest weekly net outflows since January, removing a key source of buy‑side support.
- Higher yields raise the opportunity cost of holding Bitcoin by offering over 4% in risk‑free returns, which compresses the premium investors demand for non‑yielding assets and can curb ETF demand until rate pressures or oil shocks ease.