Bitcoin Slips Under $74,300 as Higher Bond Yields Sap Appetite for Risk Assets

Bitcoin briefly dipped to about $74,300, its lowest level since April 20, according to CoinDesk. The move leaves the token down roughly 10% from its recent peak above $82,500 on May 6. U.S.-listed spot Bitcoin ETFs have recorded more than $2.26 billion in cumulative net outflows over the past two weeks. Outflows totaled about $1.26 billion this week, marking the largest weekly withdrawal since January. Rising yields on U.S. Treasurys and other developed-market government bonds have also weighed on demand for higher-risk, non-yielding assets such as Bitcoin.