CoinDesk analyzed that rising US Treasury yields are weakening investment sentiment for high-risk assets such as Bitcoin (BTC). The media explained, "The attractiveness of allocating funds to BTC is decreasing due to rising US and major country bond yields. Additionally, with growing concerns about supply disruptions in the Strait of Hormuz due to Iran-related geopolitical tensions, some speculative funds are shifting to commodity markets such as crude oil, copper, and sulfur. Fund outflows are also continuing from US spot BTC ETFs. US spot BTC ETFs recorded a net outflow of approximately $1.26 billion this week, which is the largest weekly outflow since January of this year. With approximately $1 billion also flowing out the previous week, the cumulative net outflow over the past two weeks has exceeded $2.26 billion."
