Bitcoin's bond-market lifeline fails as $80,000 cost-basis zone comes under threat
- —Bitcoin briefly lost $81,000 as the Nasdaq fell over 2%, gold dropped 2.7% and silver 5.8%
- —10-year Treasury yield fell from 5.146% to below 5%, the biggest one-day drop in over two years
- —Brent crude hit an intraday high of $114.70 after renewed Houthi attacks in Saudi Arabia
- —Glassnode puts the average spot Bitcoin ETF cost basis near $81,500 and corporate treasuries near $80,200
Why it matters: A daily close below $80,000 would put ETF and corporate treasury holders at a loss and bring $77,600 into focus.
Source: CryptoSlate