BTC News: Bitcoin Slips Below 200-Day Average, Bond Yields Slide

Bitcoin (BTC) fell below its key 200-day simple moving average of approximately $107,500, reaching $106,900 and extending its weekly loss to 7%, with other major tokens like XRP, SOL, and ETH also declining significantly. This weakness followed over $500 million in outflows from U.S.-listed spot Bitcoin ETFs and aligns with bearish technical indicators suggesting a potential drop below $100,000. The broader risk-off sentiment was fueled by a nearly 1% drop in S&P 500 futures, driven by banking sector worries after disclosures from Zions Bancorp and Western Alliance Bancorp regarding fraud-linked loan exposure. This flight to safety boosted demand for bonds, pushing the U.S. 10-year Treasury yield down to 3.94%, its lowest level since April, further supported by recent data showing softening economic activity from the Philadelphia Fed Manufacturing Index.

(Source：CoinDesk)