Bitcoin and cryptocurrencies remain under pressure as U.S. Treasury yields continue to climb. The U.S. 30-year bond yield crossed 5.28% on July 31, its highest level since 2007, and analyst Benjamin Cowen expects the 10-year yield to reach the 5% mark. This setup has already triggered capital outflows: $265.37 million was withdrawn from Bitcoin and $1.83 million from Hyperliquid last Friday. The total cryptocurrency market capitalization hovers around $2.17 trillion, and stablecoin supply has declined by $14.27 billion since May 22, signaling that investors are shifting toward safer assets.
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