Bitcoin slipped 3.8% to $83,880 on Thursday, the first dip in a week of gains that had pushed the price above $87,300 earlier in the month.
The slide came as the 10‑year Treasury yield climbed to 5.11% and the two‑year to 4.85%, a 10‑year high, tightening risk appetite across equities and crypto alike. Purvang Mashru, lead analyst at BitDelta India, said the surge in yields added pressure to risk assets and hit higher‑beta coins like Dogecoin and Cardano hardest.
Even as Bitcoin’s price fell, spot ETF flows stayed bullish: $714.7 million moved into U.S. Bitcoin ETFs, while Ether ETFs drew $162.2 million. Giottus CEO Vikram Subburaj noted a $1.7 billion inflow over two days, underscoring that institutional demand remains resilient despite the pullback.
Technical watchers flag the $84,000 zone as a crucial support. BitDelta’s Mashru sees resistance at $84,619 and $85,000; Mudrex’s Prateek Gupta places lower support at $82,500 and resistance at $86,500. Minal Thukral, EVP‑Growth at CoinDCX, warned that a sustained hold above $84,000 could revive the $87,400 high, while a break below could open the $81,000–$82,000 range.
Looking ahead, traders will focus on the June PCE inflation reading, the upcoming employment data, and a $16 bn Bitcoin options expiry on Friday that could spike volatility. Geopolitical jitters from U.S.–Iran tensions and Brent crude at $103 also weigh on risk sentiment.