Bitcoin falls under 64K as Treasury yields raise Fed hike worries
Bitcoin slid below $64,000 as rising Treasury yields pushed traders to price in more Fed tightening, adding pressure on risk assets.
By Sofia Marchetti · Columnist
· 3 min read
Bitcoin falls under 64K again as higher US Treasury yields pull attention back to the Federal Reserve and the cost of money. For everyday investors, the move is a reminder that crypto can trade like a risk asset when interest-rate expectations shift.
Bitcoin fell more than 1.6% on Friday after Wall Street opened, with TradingView data cited by Cointelegraph showing BTC/USD moving toward the $64,000 area as buyers struggled to defend recent gains. A market snapshot showed BTC at $63,979.04, down 1.39%.
Cointelegraph reported that geopolitical tensions and broader macroeconomic pressure weighed on crypto markets as appetite for risk assets faded. Risk assets are investments, including crypto and stocks, that investors tend to favor when they are more willing to take market risk.
Why did bitcoin fall under $64,000?
Trading firm Mosaic Asset Company pointed to rising US Treasury yields as a main reason for the sell-off. Treasury yields are the returns investors demand to hold US government debt, and when they rise, investors often reassess assets that do not pay interest, including bitcoin.
Mosaic said large moves were happening across the Treasury yield curve even after a weaker-than-expected US Consumer Price Index report. The Consumer Price Index, or CPI, tracks changes in consumer prices and is one of the inflation gauges watched by the Fed.
The firm focused on the two-year Treasury yield, saying it tends to lead expectations for the federal funds rate. The federal funds rate is the Fed’s target rate for overnight lending between banks, and it influences borrowing costs across the economy.
According to Mosaic, the two-year yield had reached 4.31% and was sitting well above the Federal Reserve’s target range. Mosaic said the shift in rate expectations was also putting downward pressure on stock indexes.
CME Group’s FedWatch Tool showed markets still expected the Fed to keep rates unchanged at its meeting next week. The same data showed traders pricing in a 0.25 percentage point rate increase in September, with that move viewed as one of two hikes expected before the end of 2026.
What traders are watching near $64,000
Crypto trader Killa said on X that bitcoin was showing a short-term pattern seen before, pointing to what the trader called a Binance “plunge protection team.” The post referred to bid liquidity on Binance, meaning buy orders placed below the current market price that can slow or absorb a decline if sellers push into them.
Killa’s chart showed layers of buy-side liquidity beneath the spot price. The trader suggested the orders might be intended to support the market rather than necessarily get filled.
Analytics account Wealthmanager also focused on the $64,000 level. In a post on X, the account said bitcoin had moved below the prior day’s low and that $64,000 was the key level to watch. Wealthmanager said the lower-timeframe uptrend would remain intact while BTC held above that area, while a break below $64,000 would invalidate the current lower-timeframe structure.
Trader and analyst Rekt Capital said bitcoin was still behaving similarly to its 2022 bear-market pattern. In a post on X, Rekt Capital said BTC had not shown evidence against that comparison and pointed to a rejection from the 50-month exponential moving average at $65,950. An exponential moving average, or EMA, is a trend line that gives more weight to recent price action.
The immediate setup leaves bitcoin caught between technical support near $64,000 and a macro backdrop that has become less friendly for speculative assets. The next Fed decision and the path of Treasury yields remain key inputs for traders watching whether the latest pullback deepens or stabilizes.
This story draws on original reporting from Cointelegraph.
