Bitcoin falls under $64K as surging US bond yields boost Fed rate-hike odds
Cointelegraph 2026-07-24 14:28:03
Context: Bitcoin's price has fallen below $64,000 due to increasing US bond yields, which have raised the likelihood of a Federal Reserve rate hike. The cryptocurrency experienced several dips under this threshold, but a Binance "plunge protection team" intervened with bid liquidity to prevent a more significant price drop. This development has impacted the cryptocurrency market.
Key Facts
- Bitcoin's price fell under the $64,000 mark multiple times, prompting a Binance "plunge protection team" to provide bid liquidity and mitigate a deeper price decline.
- The team's intervention aimed to prevent a more substantial BTC price rout, highlighting the ongoing efforts to stabilize the cryptocurrency market.
- Surging US bond yields have increased the odds of a Federal Reserve rate hike, contributing to the downward pressure on Bitcoin's price.