US Treasury Sell-Off Punishes Stocks and Crypto Despite Continuous BTC Outflows From Coinbase Pro

On Friday (February 26), the price of Bitcoin fell to as low as $44,188 (at 07:45 UTC) on crypto exchange Bitstamp after Thursday’s US Treasurys sell-off caused their yields to go up and stock and crypto prices to go down.

Currently (as of 10:26 UTC on February 26), according to CryptoCompare, Bitcoin is trading around $46,740, down 5.8% in the past 24-hour period, but still up 61.32% so far in 2021. The fact that the Bitcoin price is up more than $2,552 (or 5.77%) since it’s intraday low three hours ago is likely to be due to dip-buying, especially after Ki Young Ju, the CEO of South Korean blockchain analytics startup, pointed out that institutional investors seem not have lost any of their appetite for Bitcoin as evidenced by continuous large BTC outflows from Coinbase Pro wallets.

According to Bybt, in the past 24-hour period, Bitcoin’s total futures’ open interest has gone down 5.55%.

bitcoin
Bitcoin (BTC) $ 60,260.00 3.63%
ethereum
Ethereum (ETH) $ 2,143.29 3.69%
binance-coin
Binance Coin (BNB) $ 467.44 2.79%
xrp
XRP (XRP) $ 1.43 39.71%
tether
Tether (USDT) $ 1.00 0.08%
polkadot
Polkadot (DOT) $ 41.66 2.66%
cardano
Cardano (ADA) $ 1.23 2.67%
litecoin
Litecoin (LTC) $ 255.12 16.06%
uniswap
Uniswap (UNI) $ 29.63 1.16%
chainlink
Chainlink (LINK) $ 31.93 1.59%
S&P 500  ^GSPC 
$4,128.80  $31.63  (0.77%)
Dow Jones Industrial Average  ^DJI 
$33,800.60  $297.03  (0.89%)
NASDAQ Composite  ^IXIC 
$13,900.19  $70.88  (0.51%)
Russell 2000  ^RUT 
$2,243.47  $0.8800  (0.04%)
Crude Oil May 21  F*CL.NYM 
$59.34  $0.2600  (-0.44%)
   
$0.0000  $0.0000  (0.00%)