Bitcoin Under Pressure as Treasury Yields Rise

The crypto market remains under pressure as capital drains out of the space, causing total market capitalization to hover near $2.17 trillion.

Fragile economic conditions and potential action from the Federal Reserve are major concerns for investors.

Crypto analyst Benjamin Cowen expects the U.S. 10-year Treasury yield to rise further, potentially reaching a high of 5% in the near term.

A rising yield can lead to increased borrowing costs and reduced capital flow into risk assets like cryptocurrencies.

In fact, recent data shows that investors are already rotating toward safer assets, with U.S.-listed products experiencing sharp outflows on Friday.