Bitcoin traded around $84,000 as spot Bitcoin ETFs recorded inflows for eight consecutive sessions totaling approximately $3 billion. The 10-year U.S. Treasury yield remained near multi-year highs around 5.2-5.3%, while futures markets priced in roughly 70% odds of a Federal Reserve rate hike in October.
What it moves
BTC
Bull vs bear
Bulls see sustained ETF inflows as proof of institutional conviction that overrides macro pressure from elevated yields. Bears argue that stubbornly high Treasury yields and a 70% implied probability of a Fed hike in October will keep liquidity tight and cap any meaningful upside for risk assets.