Bitcoin pressured by Iran tensions, 5.2% Treasury yields and California memecoin ban
- —Total crypto market cap near $2.91 trillion, bitcoin dominance at 57.7%
- —US 10-year Treasury yield hit 5.20%, the highest since 2007
- —Solana ETFs drew a record $188 million in weekly inflows, two-thirds into Bitwise's fund
- —California's AB 2409 bars state officials from issuing memecoins
Why it matters: Geopolitical risk and the highest long-bond yields since 2007 are pressuring risk assets, though steady ETF inflows and bitcoin's 42% quarterly gain keep the uptrend intact for now.
Source: CoinSpot