CoinDesk
Bitcoin dropped to as low as $78,600 on Friday — down roughly 4% from Thursday's high of $82,000 — as a sharp spike in government bond yields triggered broad selling across risk assets. The move came just a day after the Senate Banking Committee advanced the Clarity Act crypto market structure bill, underscoring how macro forces can swiftly override positive regulatory catalysts.
The selloff was far from crypto-specific: the Nasdaq 100 fell 1.7%, the S&P 500 dropped 1.2%, and gold slid 2.5% to near $4,500 per ounce. Oil bucked the trend, with WTI crude jumping 3% above $100 a barrel — itself a key driver of the inflation anxiety rattling investors.
The U.S. 10-year Treasury yield climbed to 4.58%, its highest in over a year, while UK 10-year gilt yields surged to 5.2% — a level not seen since 2008. CME FedWatch data now shows nearly 50% odds for at least one Fed rate hike by year-end,…
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