Bitcoin Slumps as Treasury Yields Cross 5% Threshold

Bitcoin dropped sharply on September 28 as macroeconomic anxiety took hold. The price fell to around $82,702, down 2.2% from its intraday high earlier in the day.

The slide was triggered by Treasury yields crossing above 5%, which led investors to reassess their holdings of volatile assets with no yield. The Federal Reserve's continued hawkish stance on interest rates and a stronger dollar also contributed to the pressure.

Disappointing economic data added to the gloom, with Bitcoin falling alongside broader market declines. However, US spot Bitcoin ETFs recorded net inflows exceeding $2.39 billion for the week ending September 25, marking the largest weekly inflow of 2026.