Bitcoin Tumbles Below $64,000 Amid Rising Yields and Geopolitical Tensions
The price of Bitcoin fell below $64,000 on Friday due to a combination of rising US Treasury yields and geopolitical tensions. The 2-year Treasury yield, which tends to lead market expectations on Federal Reserve interest-rate decisions, rose to 4.31% and sits above the Fed's target range.
This has historically been unfavourable for Bitcoin, which performs best in low-rate environments where investors seek higher-yielding or speculative assets. Markets still expect the Fed to leave rates unchanged at its next meeting but are pricing in a 0.25 percent hike in September, with two increases now anticipated before the end of 2026.
Analyst Rekt Capital pointed out that Bitcoin's recent rejection from the 50-month exponential moving average at $65,950 mirrored behaviour seen during the 2022 bear market. 'Bitcoin hasn't really offered any evidence to the contrary,' he said, suggesting that the current correction may have further to run if the pattern holds.