Bitcoin, Ethereum, XRP, Dogecoin Hold Firm as Treasury Yield Hits 24-Year High
Bitcoin is holding key support at $83,000, with analysts arguing that Treasury yields surging to a 24-year high have yet to derail crypto markets.CryptocurrencyTickerPriceBitcoin$83,589Ethereum$2,690Solana$117.82XRP$1.48Dogecoin$0.0932Shiba Inu$0.05571Notable Statistics:Coinglass data shows 80,621 traders were liquidated in the past 24 hours for $292.56 million. SoSoValue data shows net inflows of $31.07 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $17.1 million.In the past 24 hours, top gainers include Bitway, Curve DAO and Aave.Notable Developments:Rising Bond Yields Stop Bitcoin’s Rally. These 3 Indicators Signal It May Resume SoonCoinbase Wins CFTC Approval for Its Own ClearinghouseTrader Notes:Scott Melker’s interview with Andrew Parish, Tillman Holloway and Mark Yusko highlighted that ETFs, options and futures have transformed Bitcoin into an institutional yield opportunity, potentially changing traditional cycle dynamics.Yusko argued rising Treasury yields aren’t necessarily bearish for Bitcoin, saying global liquidity matters more than rates.Since late 2023, the 10-year Treasury yield has risen roughly 135 basis points while Bitcoin has approximately doubled.Yusko estimates Bitcoin’s fair value at $104,000 to $105,000, leaving BTC undervalued in the $80,000s.Image: Shutterstock Read Also: Galaxy CEO Mike Novogratz Warns AI Could End Humanity