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Bitcoin trades around $78,000 amid ETF inflows and bond-market stress
Bitcoin ETFs pulled in $217 million on Monday, after outflows ended their nine-day run, while the U.S. 10-year yield rose to a new cycle high of 4.79%.
Bitcoin was trading around $78,000 as market stress spread from the bond market into risk assets, according to live market coverage from CoinDesk.
CoinDesk also reported that Bitcoin ETFs took in $217 million on Monday, marking the first day of inflows after a one-day outflow ended a nine-day streak of declines.
On the macro front, the outlet pointed to higher U.S. Treasury yields, with the 10-year yield gaining 3 basis points to a cycle high of 4.79%.
CoinDesk tied the crypto backdrop to a busy economic calendar and recent central bank signaling, including comments from Fed Governor Michael Barr about how September rate decisions could depend on whether inflation is moderating, alongside upcoming data such as August Nonfarm Payrolls and inflation data.
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