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Bitcoin holds near $78,000 as U.S. yields and oil rise

U.S. spot bitcoin ETFs saw about $120 million in outflows on Wednesday, while ether ETFs pulled in nearly $35 million.

Reported · Written up by our desk · Market Structure

Treasury yields and oil prices rose on Wednesday after the Treasury announced it would purchase $6 billion of 10 to 20-year bonds, pushing the U.S. 10-year yield to 4.857% and the 30-year yield to 5.309%.

CoinDesk reports that Brent crude traded above $102 a barrel and WTI crude above $97, while technology stock futures edged lower.

In crypto markets, Bitcoin traded around $78,000 and gold slipped below $4,400 an ounce, according to CoinDesk.

Crypto ETF flows were mixed, with U.S. spot bitcoin ETFs losing about $120 million for a second straight red day. CoinDesk said ARKB accounted for $78 million of the outflow, while ether ETFs gained nearly $35 million, and every bitcoin fund other than Grayscale's mini trust and Invesco's BTCO traded at a discount to its underlying holdings.

Latest closeGold $4,445.30 ▲1.2%|WTI crude $97.01 ▲4.3%|Brent $102.05 ▲4.2%

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