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Bitcoin dips below $64,000 as US Treasury yields lift Fed hike odds
A surge in two-year Treasury yields to 4.3% helped drive the sell-off, while FedWatch still signaled no rate move next week and a 0.25% hike in September.
Bitcoin slid more than 1.6% on Friday, with BTC/USD approaching the $64,000 level after selling accelerated following the Wall Street open, according to TradingView data cited by Cointelegraph.
Cointelegraph reports that rising US Treasury yields were a key driver of the move lower, with Mosaic Asset Company pointing to a broader jump across the yield curve after a weaker than expected US consumer inflation reading.
The report says Mosaic highlighted the two-year yield as especially influential for the outlook on Federal Reserve interest rate changes, noting it was at 4.31% and above the Fed’s target range, a setup it tied to continued pressure on risk assets.
Cointelegraph also cited CME Group’s FedWatch tool, which showed markets still expected the Fed to hold rates unchanged next week, while pricing in a 0.25% hike in September as one of two increases expected before the end of 2026. It added that traders pointed to a recurring short-term pattern and renewed bid liquidity associated with activity on Binance.
Latest closeBitcoin $63,925.97 ▼1.7%