Bitcoin (BTC.X) dropped below $64,000 on Saturday, trading around $63,919 according to Binance data. That’s a decline of about 2.3% over 24 hours.
The sell-off began accelerating after Wall Street opened on Friday. BTC/USD ranged between roughly $63,703 and $65,396 during the session.
Trading firm Mosaic Asset Company pointed to rising US Treasury yields as a key driver. The two-year yield climbed to 4.31%, which sits well above the Federal Reserve’s current target range.
Mosaic noted “massive moves are underway across the yield curve” despite a weaker-than-expected CPI report. They said rising yields are placing downward pressure on stock indexes and risk assets like crypto.
CME Group’s FedWatch Tool shows markets expect the Fed to hold rates steady next week. However, a 0.25% hike is priced in for September, as one of two expected increases before year-end.
Analyst Ted, posting on X, highlighted the loss of the 65,000supportzone.Hesaid:”65,000 support zone. He said: ” 65,000supportzone.Hesaid:”BTC has lost the $65,000 support zone. The next key zone is $62,500–$63,000, which should hold for the next leg up in Bitcoin.” His post signals traders are watching that range closely as a potential floor.
Stablecoin Inflows Hit Multi-Year Low
CryptoQuant analyst Darkfost flagged that stablecoin transfers to exchanges have fallen to their lowest level since 2025. The 30-day average inflow of USDT and USDC on Ethereum stands at $2.3 billion, well below the 365-day average of $3.7 billion.
When Bitcoin hit its record high, those figures were $5.6 billion and $4.3 billion respectively. Lower inflows suggest less ready capital is moving onto trading platforms, pointing to weaker buying interest.
Trader Killa noted on X that BTC was repeating a familiar short-term pattern, identifying a so-called “plunge protection team” on Binance. Layers of bid liquidity appeared below spot price, potentially acting as a buffer against deeper losses.
Analytics account Wealthmanager warned that a confirmed break below $64,000 would “invalidate” the low-timeframe market structure.
Analyst Rekt Capital added that Bitcoin is still following 2022 bear market tendencies, rejecting from the 50-month EMA at $65,950.
Regulatory Uncertainty Adds Pressure
The Digital Asset Market Clarity Act is struggling to pass the Senate. Democrats have rejected proposed ethics limits as too weak, particularly around President Trump’s crypto interests. Senate Majority Leader John Thune said passage before summer recess is unlikely.
Bitcoin is currently trading roughly 50% below its record high as the bear market that began in October continues.
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