Crypto markets face Bitget hack and surging U.S. Treasury yields

Bitcoin ETF inflows Bitget hack U.S. Treasury yields cryptocurrency security macroeconomic trends

The cryptocurrency and financial markets are experiencing significant volatility driven by security breaches, massive institutional inflows, and shifting macroeconomic indicators.

Bitget, a major cryptocurrency exchange, reported a substantial security breach where approximately $387.5 million in assets, including Zcash and TRON, were unauthorizedly transferred from its hot and warm wallets. The company has since identified and fixed the vulnerability and is working to replenish its protection fund.

In contrast to the security concerns, U.S. spot Bitcoin ETFs have seen a massive resurgence, recording approximately $2.4 billion in net inflows during the week ending September 25. This influx, led by BlackRock's IBIT, has turned the year-to-date flow for these funds positive after a significant deficit in July. However, Bitcoin's price has faced resistance near the $84,000 to $87,000 range, as the buying pressure from ETFs is being met by selling from miners and long-term holders.

Simultaneously, the broader financial landscape is reacting to rising U.S. Treasury yields. The 10-year Treasury note yield has climbed above 5.2%, a level not seen since 2007, while the 30-year yield has exceeded 5.5%. These rising yields, influenced by inflation concerns and U.S. Treasury bond buyback policies, are creating a high-interest-rate environment that competes with risk assets like Bitcoin and equities for investor capital.

Entities

Bitcoin · Bitget · BlackRock · Gracy Chen · U.S. Treasury

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] BlackRock's IBIT ETF saw approximately $1.2 billion in net inflows during the same week. blockcast.it · crypto.news
[● 4 SOURCES] The 30-year Treasury yield reached levels above 5.5%. www.nadanews.com · crypto-times.jp · lifehack2ch.livedoor.biz · www.businessinsider.jp
[● 3 SOURCES] U.S. spot Bitcoin ETFs recorded net inflows of approximately $2.4 billion during the week ending September 25. blockcast.it · bitfinanzas.com · crypto.news
[○ 1 SOURCE] Bitcoin price faced resistance near the $84,000 to $86,000 range despite ETF inflows. blockcast.it
[● 5 SOURCES] The yield on the U.S. 10-year Treasury note rose to a level above 5.2%, a high not seen since 2007. www.nadanews.com · crypto-times.jp · lifehack2ch.livedoor.biz · www.businessinsider.jp · www.stheadline.com
[○ 1 SOURCE] U.S. Treasury announced plans to increase the maximum size of liquidity-support buybacks for long-dated bonds. crypto.news
[● 4 SOURCES] Bitget CEO Gracy Chen reported an unauthorized outflow of approximately $351.6 million from the exchange's hot wallets. bittimes.net · mastand.com · www.nadanews.com · crypto-times.jp
[● 2 SOURCES] Bitget later revised the estimated loss to approximately $387.5 million after including Zcash and TRON assets. www.nadanews.com · crypto-times.jp