Bitcoin Slides to Four-Month Low as U.S. Yields Climb and Geopolitical Risk Rises

PANews, May 23 — CoinDesk reported that Bitcoin fell to $74,305, its lowest level since late April, as rising U.S. Treasury yields and higher bond yields across major economies prompted investors to cut exposure to zero-yield, high-risk assets. The cryptocurrency dropped more than 3% over the past 24 hours and is now down over 10% from this month's peak. U.S. spot Bitcoin ETFs recorded $2.26 billion in net outflows over the past two weeks, including $1.26 billion leaving the products this week alone, one of the largest weekly outflows seen this year. With geopolitical tensions elevated, speculative flows have shifted into commodities such as crude oil and copper. Some funds have also moved into derivatives tied to SpaceX's anticipated listing.