Bitcoin's $77,700 Support Is the Last Line Before $75K Opens Up as Treasury Yields Crush Risk Appetite

Bitcoin touched an intraday low of $77,711 before recovering to $78,225, spending a second consecutive session under macro pressure as the 10-year Treasury yield held at 4.599% and the 30-year climbed to 5.131% — its highest since May 2025. BTC is now down 3.9% from its May 15 open above $81,000, and the $77,700–$78,000 zone is the only remaining support shelf standing between the current price and a deeper drawdown.

The macro case against BTC is stacking: April CPI accelerated to 3.8% year-over-year, WTI settled at $105.42 on May 15 (up 11.33% on the month), and University of Michigan year-ahead inflation expectations hit 4.5% in May. With the Fed still in assessment mode, rate relief is not close. K33 data put BTC's 30-day correlation with Nasdaq futures above 0.7, meaning equity drawdowns are transmitting directly into crypto.

The ETF buffer has also deteriorated at the worst…