Bitcoin traded near $83,981 as of 00:55 ET, down 0.27% on the day, after briefly touching $85,000 on Friday following a dip below $83,000 earlier in the week.
The cryptocurrency's resilience came amid a sharp move in traditional markets: the 10-year U.S. Treasury yield climbed above 5.2% on Friday, reaching its highest level since 2007. Rising yields have historically pressured risk assets, and the carryover from fixed-income markets appeared to temper gains that stronger institutional demand might otherwise have pushed higher.
Institutional appetite for Bitcoin exposure remains robust. U.S. spot Bitcoin ETFs pulled in roughly $2.65 billion across five consecutive sessions through Wednesday, with about $347 million flowing in on Wednesday alone. BlackRock's IBIT and Fidelity's FBTC accounted for the bulk of Wednesday's inflows.
Strategy (NASDAQ: MSTR), the largest corporate holder of Bitcoin, proposed daily dividend accruals on four preferred stock classes. The company said the move is intended to improve liquidity and demand for the securities, which would in turn give it greater access to capital to fund additional Bitcoin purchases.
On the regulatory front, progress was mixed. SEC Commissioner Hester Peirce, a vocal advocate for clearer crypto rules who helped lead the agency's Crypto Task Force, is scheduled to depart on October 2. In the legislative arena, the Senate failed to advance the Digital Asset Market Clarity Act. Meanwhile, Germany floated cryptocurrency tax reforms that would allow a substitute assessment calculating taxes at 50% of sale proceeds when investors cannot provide credible acquisition-cost records — a proposal criticized by Circle executive Patrick Hansen.
Elsewhere in crypto, Ether rose 0.35% to $2,689.67, XRP gained 1.55% to $1,5566, and Solana advanced 3.64% to $120.67. BNB edged up 0.12% to $774.28, while Cardano climbed 3.39% to $0.2565. Dogecoin rose 3.05%. Among meme coins, TRUMP fell 1.31% and Shiba Inu gained 2.60%.
