Morning Minute: Bitcoin Slides Again to $77K on Rising Bond Yields, Oil Spike – Decrypt

Morning Minute is a each day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don't essentially replicate these of Decrypt. And take a look at our new each day information present overlaying all the high tales in 5 minutes, downloadable on Apple Pod or Spotify.GM!Right now’s high information:
Crypto majors are purple as yields rise, oil spikes; BTC at $77.4k
SpaceX goes stay for pre-IPO buying and selling on Hyperliquid, sees $40M quantity in 12 hrs
BTC ETFs see almost $1B in outflows final week, snapping 6-week influx streak
Aave restores WETH LTV ratios to pre-exploit ranges
Trump household disclosures present a number of crypto trades together with COIN, HOOD & MARA
Bitcoin Slides Again to $77K on Rising Bond Yields, Oil SpikeBitcoin fell from $82,000 Thursday to sub-$77,000 by Sunday, and U.S. Treasury yields had been the doubtless set off.The ten-year yield hit 4.6% and the 30-year crossed 5% for the primary time since Could 2025. Odds of a charge hike in 2026 jumped to 40%.The ETFs didn’t assist, with Bitcoin spot ETFs bleeding $1 billion in web outflows throughout the week, snapping a six-week influx streak. All of that outflow regardless of Saylor promoting sufficient STRC to purchase 15,000+ Bitcoin (we’ll see how a lot he really purchased immediately).ETH fared even worse, falling almost 10% on the week to $2,110 and Solana completely retraced its latest rally to close $100, settling again at $84.The lone brilliant spot for crypto majors is Hyperliquid which managed to leap 10% on the week to $45, on its new Coinbase partnership and as phrase spreads that pre-IPO shares are seeing value discovery on its HIP-3 platform. On that word, SpaceX debuted final evening and has already seen $40M in quantity on Hyperliquid—so you possibly can anticipate that to get extra protection. And maybe, new pushback…Wall Road’s Largest Exchanges Are Attempting to Kneecap HyperliquidCME Group and Intercontinental Change (NYSE guardian) have been privately lobbying the CFTC and members of Congress to rein in Hyperliquid, Bloomberg reported Friday.The exchanges informed regulators that Hyperliquid’s decentralized construction and largely nameless buying and selling setting might enable unhealthy actors to control costs or circumvent monetary sanctions, significantly in oil markets, the place Hyperliquid has seen explosive quantity progress because the Iran struggle started.Hyperliquid’s oil perpetual futures went from $339 million in cumulative buying and selling quantity in late February to over $7.3 billion by March 12. The change now captures 34-44% of the decentralized derivatives market, with $619 billion in complete Q1 2026 buying and selling quantity.The Hyperliquid Coverage Heart, the change’s newly shaped US advocacy arm, fired again Friday calling the considerations “unfounded,” and arguing that “Hyperliquid provides enhanced market transparency, publishing an entire onchain report of each transaction in actual time, making it a uniquely hostile setting for insider buying and selling or value manipulation.” Notably, this comes after Cerebras debuted on Nasdaq final week, the place Hyperliquid was extensively seen as the house for value discovery pre-IPO.Now SpaceX pre-IPO contracts are extensively anticipated to launch on Hyperliquid (as quickly as immediately) forward of its June 12 Nasdaq debut. And if it sees the demand many are speculating, anticipate TradFi to beome even angrier.Trump’s Ethics Submitting Reveals Crypto Trades Whereas Passing Crypto LegislationPresident Trump’s household belief filed two necessary 278-T disclosure kinds with the Workplace of Authorities Ethics on Thursday, overlaying greater than 3,600 securities transactions from January by means of March 2026.The filings present trades in crypto-related shares together with Coinbase, Robinhood, and a pair of Bitcoin mining companies, all executed whereas Trump’s administration was concurrently advancing sweeping pro-cryptoregulatory overhauls.The filings present 9 separate Coinbase buy entries. Essentially the most substantial transaction occurred on February 10, with a reported worth between $100,001 and $250,000. The submitting additionally contains two acquisitions of MARA Holdings inventory, eight Technique transactions together with a January sale, and purchases of Block, Robinhood, and SoFi Applied sciences. The paperwork report worth ranges reasonably than precise greenback quantities. Trump himself reported a private stake of a minimum of $51 million in digital property.Practically 70 Trump administration officers collectively maintain over $193 million in crypto property—Vice President Vance disclosed between $250,000 and $500,000 in Bitcoin; Well being Secretary Kennedy between $1 million and $5 million.The conflict-of-interest query shouldn't be new; it has been the central Democratic objection to the Readability Act all through the markup course of. However the timing of this disclosure is notable because it arrives three days after the Readability Act cleared the Senate Banking Committee, on the precise second the ethics language that might limit authorities officers from profiting on crypto is being negotiated for inclusion within the Senate flooring model of the invoice.Drake Known as for SBF’s Launch on a New AlbumDrake dropped three shock albums at midnight Friday—“Iceman,” “Habibti,” and “Maid of Honour”—totaling 43 tracks, his first main solo launch since 2023. And he additionally name-dropped an notorious crypto villain.On the monitor “Mud,” Drake raps: “An FTX penthouse high-riser, yeah / Samuel Bankman, free all my guys up, yeah.” Later within the track he describes himself as “a BTC crypto big-timer.”Sam Bankman-Fried, posting from federal jail the place he's serving a 25-year sentence, responded Saturday in a tweet: “The Drake stimulus package deal is actual. Mud is a vibe – and after I get out, I can mortgage you my bean bag chair.”Regardless of Drake’s pleas, prediction market bettors don’t discover SBF getting out of jail in 2026 very doubtless, with the chances at simply 7%.🌎 Macro Crypto and Markets
Crypto majors are purple and falling as yields spike, oil jumps; BTC -1.3% at $77.4k; ETH -2% at $2,140; SOL -2% at $85; HYPE +6% at $45.60
KITE (+8%), Secure (+7%) and HYPE (+6%) led high movers
Oil +1% at $102; Gold even at $4,540
Inventory futures are barely purple with the Nasdaq down 0.3% because the US-10 12 months spikes over 4.6%
Aave restored WETH loan-to-value ratios to pre-exploit ranges throughout Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle, and Linea, permitting customers to as soon as once more borrow in opposition to WETH
Lombard Finance migrated its $1B+ in Bitcoin-backed property from LayerZero to Chainlink CCIP Friday, becoming a member of Kelp, Solv Protocol ($700M), Re, and Kraken
Gemini jumped 25%+ in premarket buying and selling Friday after the Winklevoss twins injected $100 million into their firm through Winklevoss Capital Fund, buying 7.14 million shares at $14 apiece, paid totally in Bitcoin
SpaceX went stay for pre-IPO buying and selling on Hyperliquid, opening at $2.1T on $40M in quantity
Company Treasuries & ETFs
The Bitcoin ETFs noticed $290M in web inflows on Friday and a web outflow of $995M on the wee; the ETH ETFs noticed $66M in outflows
Technique introduced it would repurchase $1.5 billion principal quantity of 2029 convertible notes, in a shock transfer on Friday
Meme Coin Tracker
Meme leaders had been very purple; DOGE -6%, SHIB -3%, PEPE -3%, PENGU -3%, TRUMP -5%, BONK -5%, SPX -4%, FARTCOIN -6%
Buttcoin (+24%), Worldcup (+40%) and unc (+22%) led notable movers on Solana
Base movers included Pitch (+17x), aeon (+48%), Nook (+30%) and hermesOS (+90%)
💰 Token, Airdrop & Protocol Tracker🚚 What is occurring in NFTs?
NFT leaders had been principally inexperienced with Punks main; Punks +2% at 33.25 ETH, BAYC +1% at 9.91 ETH, Pudgy -1% at 4.82 ETH; Hypurr’s +3% at 330 HYPE
Florentines (+64%) and Normies (+13%) led notable movers
New venture Ten Thousand Tokens from Rhynotic mints out at ~0.02 ETH (together with fuel charges) and does a 5x to 0.1 ETH flooring
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