Bitcoin dips as BlackRock sees outflows, ETF inflows can’t offset hedging
Bitcoin slid 2.3% to $60,843 on Wednesday, ending close to session lows—just $45 up from its intraday bottom. Ether dropped 1.0% to $1,637.96 and Solana slipped 0.5% to $68.37. Bitcoin underperformed both tokens. The dollar hit a one-year high and the 10-year Treasury yield stayed at 4.48%, keeping up pressure on assets that do not provide a cash yield. But U.S. stock futures added between 0.2% and 0.4%. “When markets move so rapidly, in either direction, it’s a sign of instability,” said Michael McCarthy, market analyst at Moomoo Securities Australia.