US Bond Yield Spike Stalls Bitcoin After Record ETF Inflows
- —Bitcoin rose 6.7% to $86,600 on Monday, breaking its 50-week moving average
- —Spot BTC ETFs drew $999 million in a single day, the most in nearly a year
- —10-year US Treasury yield hit 5.20%, the highest since 2007
- —$617 million in positions were liquidated in 24 hours, mostly longs
Why it matters: Rising Treasury yields and oil above $108 create competition for bitcoin; a Hormuz Strait deal and PCE data will shape October price action.
Source: BTC-ECHO