Bitcoin Slides Under $64,000 Amid Rising Bond Yields and Dropping Stablecoin Activity

Bitcoin’s price dipped below $64,000 on Saturday, slipping to about $63,919 according to Binance data. The cryptocurrency lost around 2.3% over the past 24 hours, intensifying the sell-off that began as Wall Street opened on Friday. During the session, BTC fluctuated between roughly $63,703 and $65,396.

Mosaic Asset Company pointed to a surge in US Treasury yields as a major factor behind the downward pressure on Bitcoin. The two-year Treasury yield climbed to 4.31%, well above the Federal Reserve’s current target rate. This sharp rise in yields is causing significant ripples across the yield curve, even after recent inflation data came in weaker than expected. The effect has been a drag on stock markets and risk assets, including cryptocurrencies.

Market expectations, tracked by CME Group’s FedWatch Tool, suggest the Fed will hold rates steady next week. However, a quarter-point rate hike is priced in for September, one of two hikes anticipated before the end of the year.

Analyst Ted shared on X that Bitcoin has lost critical support at $65,000. He highlighted the $62,500 to $63,000 range as the next key level that might hold and serve as a foundation for a potential bounce back. Traders are closely watching this zone as a possible floor for the next upward move.

Meanwhile, stablecoin inflows to exchanges have hit their lowest point since 2025. CryptoQuant analyst Darkfost flagged that the 30-day average inflow of USDT and USDC on Ethereum sits at $2.3 billion, significantly below the 365-day average of $3.7 billion. At Bitcoin’s all-time high, monthly inflows reached $5.6 billion, signaling that current reduced stablecoin transfers may indicate diminished buying power ready to enter the market.

Trader Killa noted a recurring short-term pattern for BTC, describing what appears to be a “plunge protection team” on Binance. Layers of bid liquidity below the spot price might be cushioning Bitcoin from deeper losses. Still, analytics account Wealthmanager cautioned that a confirmed break below $64,000 could lead to further downside pressure.