Bitcoin dips below $79,000 as bond yields rise

Bitcoin fell to $78,600 on May 15 as bond yields hit their highest level in 12 months, unsettling risk markets.
The 10-year U.S. Treasury yield rose to 4.54% on May 15, the highest since May 2025, after hotter-than-expected CPI and PPI data sparked fears of a Federal Reserve rate hike.
The 30-year bond yield surpassed 5%, while the two-year yield exceeded 4%.
Inflation and yields impact cryptocurrencies and stocks
Bitcoin ($BTC ) dropped to a low of $78,600, down about 4% from its Thursday high of $82,000, before settling slightly above $79,000.
The sell-off spread to equities, with the Nasdaq 100 opening down 1.7% and the S&P 500 collapsing 1.2%.
"10-year bond yields now above 4.50% for the first time since June 2025,". "Rate hikes are now the baseline expected move by the Fed."
Crypto-related stocks were hit hardest.
Coinbase fell nearly 6%, Circle declined 7.4%, and Strateji dropped 5.4%.
Bitcoin miners MARA Holdings and Hut 8 each lost about 7%, while Cipher Mining fell around 9%.
The CME FedWatch indicator shows over a 44% chance of a rate hike by the Fed by December, a sharp reversal from expectations of multiple cuts early 2026.
Gold declined 2.5%, while oil prices rose 3%, surpassing $100 per barrel amid rising energy inflation and yield pressures.
April inflation hit 3.8%, and the Producer Price Index reached 6%, the same as in 2022, according to official data.
Futures traders starting 2026 are pricing in two or more rate cuts, expecting rates to stay high at least through the first half of 2027.
Bitcoin remains below its 200-day moving average as the weekend approaches, caught between regulatory momentum from the Senate’s progress on the Clarity Act and negative economic momentum from rising yields and accelerating inflation.
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