Bitcoin and Treasury yields fall together in rare divergence as $80,000 recovery fails
Summary
Bitcoin fell 8.25% from Oct. 21 to Oct. 30 and remained below $80,000, despite lower real Treasury yields. Weak technology stocks, a Binance security breach that helped trigger about $1.5 billion in crypto liquidations, and roughly $1.04 billion in spot Bitcoin ETF outflows across two sessions weighed on demand. Wintermute said recent dip-buying relied heavily on leveraged futures, with little evidence of fresh spot-market capital. It identified $80,000 as the level Bitcoin must reclaim for a stronger recovery and the 50-week moving average near $76,800 as key support. Upcoming US employment data could affect yields and market expectations.
