ME News message, May 23 (UTC+8). Analysis suggests that the rise in U.S. Treasury yields and bond yields in major global economies is weakening the market’s willingness to allocate to high-risk, interest-free assets such as Bitcoin. Meanwhile, driven by the Iran situation, concerns about potential supply risks in the Strait of Hormuz are intensifying, and some speculative funds are flowing into commodity markets such as crude oil, copper, and sulfur. Market data shows that Bitcoin has dropped more than 3% over the past 24 hours, retreating by about 10% from its stage high of approximately $82,500 on May 6. During the market downturn, U.S. spot Bitcoin ETFs have continued to experience outflows. Spot Bitcoin ETFs listed in the U.S. saw net outflows of approximately $1.26 billion this week, the largest weekly outflow since January this year. The outflow size in the prior week was also close to $1 billion, and the cumulative net outflow over two weeks has already exceeded $2.26 billion. In addition, there are views that funds may be shifting toward trading related to SpaceX’s potential IPO; currently, the volume of some blockchain-based SpaceX IPO pre-market derivative trades has reached several million dollars. (Source: ChainCatcher)

BTC2.13%

SPACEX3.93%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes

Reward
7
11
2
Share

Comment

Add a comment

Cross-SectionOfSucculent

· 9h ago

The escalation of the Iran situation has boosted crude oil, and funds have withdrawn from risk assets, putting pressure on cryptocurrencies.

View OriginalReply0

OldBlackVelvetKey

· 16h ago

ETF outflows of 2.2 billion over two weeks, institutions are fleeing, retail investors are still calling for a bull.

View OriginalReply0

StakingDaydreamer

· 19h ago

On-chain SpaceX transactions? Sounds very Web3, but has nothing to do with BTC price.

View OriginalReply0

PaperHandsPro

· 19h ago

Macroeconomic liquidity tightening, BTC is hit hardest, and this correction was expected.

View OriginalReply0

MetalReliefRoboticArm

· 19h ago

82k to 74k, a 10% drop is considered mild for BTC, the real panic is among high-leverage contracts.

View OriginalReply0

AprDaydream

· 20h ago

If the Strait of Hormuz really encounters an incident, oil prices will break $100, and risk assets will also have to fall.

View OriginalReply0

ExitLiquidityBuddy

· 20h ago

Wait until ETF inflows turn positive before talking about bottom-fishing; right now, it's easy to catch a falling knife on the left side.

View OriginalReply0

GateUser-7919e6b9

· 20h ago

Sulfur has become a safe-haven asset; this world is becoming more and more surreal.

View OriginalReply0

GateUser-2bbf8435

· 20h ago

Global capital is re-pricing risk; crypto is not a safe haven, it's an amplifier.

View OriginalReply0

GateUser-04e4dac2

· 20h ago

Bought in at the peak in early May and now stuck, a classic buy at the emotional high point.

View OriginalReply0

Trending Topics
View More
#
TradfiTradingChallenge
326.4K Popularity
#
PlatinumCardCreatorExclusive
118.26K Popularity
#
DailyPolymarketHotspot
1.05M Popularity
#
GateSquarePizzaDay
653.66K Popularity
#
SpaceXOfficiallyFilesforIPO
568.7K Popularity

Pinned

Sitemap

Analysis: Rising U.S. Treasury yields weaken market appetite for Bitcoin allocation

Trending Topics

TradfiTradingChallenge

PlatinumCardCreatorExclusive

DailyPolymarketHotspot

GateSquarePizzaDay

SpaceXOfficiallyFilesforIPO

Pinned