Binance Research: Bitcoin trend reversal hinges on ETF demand vs rising yields
- —BTC topped $86,000 before retreating below $84,000
- —10-year US Treasury yield rose to 5.17%
- —Odds of an October rate hike stand at about 70%
- —Spot Bitcoin ETFs drew $999 million on the 21st, the year's largest daily inflow
Why it matters: Bitcoin's next leg depends on whether ETF demand can outweigh pressure from rising US Treasury yields.
Source: Bloomingbit