Bitcoin Dips Below $64K as Surging US Bond Yields Fuel Fed Rate-Hike Fears
Bitcoin faced a sharp correction this Friday, sliding below the critical $64,000 support level. The downward pressure was triggered by surging US bond yields, which have bolstered expectations for higher interest rates from the Federal Reserve, directly impacting Bitcoin price action.
As bulls struggle to defend recent gains, market observers noted a surge in bid liquidity—reminiscent of a Binance 'plunge protection team'—aimed at preventing a more drastic BTC price rout. This macroeconomic shift highlights the growing sensitivity of the crypto market to traditional Wall Street indicators.
Bitcoin (BTC) fell more than 1.6% on Friday as its latest price correction accelerated following the Wall Street open. TradingView data indicated that BTC/USD approached the $64,000 threshold, as bulls found it increasingly difficult to maintain recent momentum.
The primary driver behind the volatility is the rise in US bond yields, which has increased the odds of the Fed maintaining a hawkish stance. While the correction was evident, liquidity interventions on Binance appeared to provide a temporary floor, attempting to stave off a deeper sell-off in the digital asset space.
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