Crypto retreats as higher Treasury yields and tariff worries bite
BTC opened at $65,048 on July 24, down 1.6%, and ETH at $1,877, down 2.9%. Spot Bitcoin ETFs bled $225 million as oil and new tariffs lifted inflation expectations.
Bitcoin opened at $65,047.87 on Friday, July 24, down 1.6% from Thursday, and eased to $64,304.50 by mid-morning Eastern time. Ethereum opened at $1,876.92, down 2.9%, and slipped to $1,860.78.
The pullback came as higher oil prices and new tariff policies raised inflation expectations, pushing U.S. Treasury yields higher — a classic headwind for non-yielding assets like crypto. Spot Bitcoin ETFs added to the pressure, recording $225 million in net outflows on Thursday.
The retreat took some shine off what had otherwise been a firmer stretch for both majors, with Ethereum having pushed back toward $1,900 earlier in the week.