Written by William Subergstaff writerReviewed by Yohan Yunstaff editor

Written by William Subergstaff writer

Reviewed by Yohan Yunstaff editor

Bitcoin falls under $64K as surging US bond yields boost Fed rate-hike odds

MarketsPublishedJul 24, 2026

Bitcoin saw several dips under the $64,000 mark as a Binance “plunge protection team” reemerged with bid liquidity to avoid a deeper BTC price rout.

Bitcoin (BTC) fell more than 1.6% on Friday as its latest price correction accelerated after Wall Street opened.

Key points:

• Bitcoin price downside pressure mounts on the back of multiple macro headwinds.
• US bond yields further a hawkish pivot in Fed interest-rate expectations.
• BTC price analysis sees a Binance “plunge protection team” attempting to shore up the market.

Analysis warns US bond yields now “well above” target

Data from TradingView showed BTC/USD approaching $64,000 as bulls struggled to preserve recent gains.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Geopolitical tensions and macroeconomic headwinds weighed on crypto markets as appetite for risk assets faded.

Trading firm Mosaic Asset Company stated rising US Treasury yields were a key driver of the sell-off.

“Massive moves are underway across the yield curve despite a weaker than expected consumer inflation report,” it wrote, referring to the latest US Consumer Price Index (CPI) report.

Mosaic stated the two-year yield was particularly prone to influence the outlook on Federal Reserve interest-rate changes, with risk assets suffering as a result of additional hikes.

“The 2-year yield that tends to lead fed funds is now at 4.31% and sits well above the Federal Reserve’s target range,” it continued.

US two-year Treasury yield one-week chart. Source: Cointelegraph/TradingView

The latest data from CME Group’s FedWatch Tool showed that markets still expected the Fed to leave rates unchanged next week, while pricing in a 0.25% hike in September as one of two increases expected before the end of 2026.

Mosaic added that those expectations were “placing downward pressure on stock indexes.”

Fed target-rate probability comparison for September FOMC meeting (screenshot). Source: CME Group

Bitcoin price “plunge protection team” returns

In ongoing market monitoring, crypto trader Killa stated BTC was repeating a familiar short-term trading pattern.

Related: BTC supply in profit eyes 60%, but analysis hints recovery may ‘roll back over’

“Textbook setup on $BTC. Seen this occur numerous times,” they stated on X, repeating a post from early June in which they identified a “plunge protection team” active on the largest crypto exchange Binance.

A chart accompanying the post showed layers of bid liquidity below the spot price, with its owners potentially not planning for the positions to be filled.

BTC/USDT chart with order-book liquidity data. Source: Killa on X.com

Analytics account Wealthmanager focused on $64,000, warning that a break below that level would “invalidate” the low-timeframe market structure.

Trader and analyst Rekt Capital, meanwhile, doubled down on the theory that BTC/USD was repeating behavior from its 2022 bear market, rejecting from the 50-month exponential moving average (EMA) at $65,950.

“Bitcoin hasn’t really offered any evidence to the contrary. Still following 2022 historical tendencies,” he summarized.

BTC/USD one-month chart with 21, 50EMA. Source: Rekt Capital on X.com

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Markets
• Market Analysis
• Bitcoin

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