Bitcoin falls over 10% from recent high
Bitcoin has fallen to about $74,300, more than 10% below its early May peak.
The decline is attributed to rising U.S. and global bond yields, which reduce demand for riskier assets.
U.S.-listed spot bitcoin exchange-traded funds have seen outflows of $1.26 billion this week, following $1 billion in outflows the previous week, totaling $2.26 billion in two weeks.
The sell-off accompanies a notable upswing in U.S. Treasury yields, reducing appetite for high-risk assets like bitcoin.