Bitcoin trades near $83,480 as ETF outflows and rising yields weigh on price

Bitcoin ‘s efforts to stabilize above $83,000 have come under renewed pressure due to a combination of rising US Treasury yields and growing outflows from spot Bitcoin exchange-traded funds, which have curtailed investment demand for the cryptocurrency. Recent trading sessions saw digital assets slide while US equities managed to advance, with stronger third-quarter earnings forecasts providing a lift to stock prices. The S&P 500 index rose 1.2% last week and the Nasdaq ticked up 0.2%, though gains were not universal as the Russell 2000 posted a 0.9% decline.

Source: CoinTurk News