Bitcoin drops below $64,000 as U.S. Treasury yields rise
On Friday 24 July, Bitcoin fell more than 1.6%, slipping below the $64,000 psychological level and trading around $63,800. The decline accelerated after the U.S. Wall Street opening and coincided with a jump in Treasury yields, the two‑year rate reaching about 4.31%.
Higher yields reinforced expectations that the Federal Reserve may raise rates, with market tools such as CME FedWatch pricing a 0.25 percentage‑point hike for September. Analysts linked the tighter monetary outlook, along with geopolitical tensions and broader macro‑economic headwinds, to a reduced appetite for risk assets.
On‑chain data showed continued bearish pressure: profit‑making Bitcoin supply remains high, while inflows to spot ETFs have turned negative, signaling outflows of institutional capital. Some market participants noted liquidity support on Binance, but the overall sentiment remained fearful, with the Crypto Fear & Greed Index near its lowest levels.
Technical observers identified $64,000 as a near‑term support zone, while a few analysts projected a possible deeper correction toward $52,000‑$53,000 before any sustained rebound. The price movement reflects the tight coupling of the cryptocurrency market to U.S. monetary policy and global risk sentiment.