🔴 Bitcoin ETF (IBIT) is trading 3.05% down today as yields rise above 5%, pressuring Bitcoin

IBIT is trading at $47.34, down -3.05%, as rising Treasury yields and inflation concerns weigh on Bitcoin.

• Bitcoin is pulling back after its recent rally as investors take profits near recent highs.
• The 10-year Treasury yield rose above 5% after stronger activity data lifted expectations for additional Federal Reserve tightening, pressuring crypto valuations.
• Major U.S. equity indexes are lower; the move is primarily macro-driven, amplified by Bitcoin consolidation and recent ETF-flow volatility rather than an IBIT-specific development.