Bitcoin Falls as Treasury Yields Rise and ETF Inflows Slow
Bitcoin traded at $83,876.47 on Sept. 28, down 2.3% over seven days, while U.S. stocks declined and spot Bitcoin ETFs recorded $2.39 billion in net inflows.
Bitcoin (BTC) fell as higher Treasury yields and declines in major U.S. stock indexes added pressure to risk assets, while spot Bitcoin exchange-traded funds continued to record net inflows.
BTC traded at $83,876.47 at 2 p.m. ET (18:00 UTC) Sept. 28, down 2.3% over seven days. Its market capitalization was about $1.685 trillion.
The S&P 500 fell 0.8% to 7,683.69, the Dow Jones Industrial Average declined 0.7% to 51,481.51 and the Nasdaq Composite lost 0.9% to 26,820.38. The 10-year Treasury yield reached 5.27% during the session before closing at 5.23%.
The pullback followed the Federal Open Market Committee’s Sept. 16 rate increase and higher Treasury yields. The committee raised the federal funds target range by 25 basis points to 3.75%-4% and said, “Inflation remains elevated.” It also said “uncertainty remains elevated owing, in part, to geopolitical developments.”
U.S. spot Bitcoin ETFs recorded approximately $2.39 billion in net inflows from Sept. 21 through Sept. 25. Daily inflows declined during that period, from $998.95 million on Sept. 21 to $134.47 million on Sept. 25.
The funds recorded $714.75 million in inflows on Sept. 22, $346.98 million on Sept. 23 and $190.65 million on Sept. 24. The sequence shows that demand slowed across the period but remained positive through Sept. 25.
That combination points to a market pullback after a period of strong ETF buying, alongside broader pressure on risk assets. The available figures do not establish that ETF demand had broadly reversed or that the decline was driven by a confirmed shift away from Bitcoin investment products.
