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Equity Weakness Could Dampen Bitcoin Demand
Analysts at QCP Capital noted that broader equity deleveraging dynamics could threaten the $80,000 support level if sustained. The largest U.S. bitcoin ETFs recorded their biggest net inflows in a month, attracting $527 million in net flows, with BlackRock’s inflows of $665 million. The ether ETFs lost $103.3 million, showing demand for bitcoin rather than the wider crypto sector. The analysts also mentioned that a continued Treasury rally could support risk assets, particularly alongside falling real yields and a weaker dollar. The U.S. 10-year Treasury yield is around 5.13%, while Brent crude is trading near $110 a barrel, keeping energy-driven inflation risks a headwind.