Bitcoin dropped from $82,000 to $77,400 over the weekend as U.S. Treasury yields surged. The 10-year yield hit 4.6% and the 30-year crossed 5% for the first time since May 2025. Odds of a rate hike in 2026 jumped to 40%.
The volatility was compounded by $1 billion in net outflows from Bitcoin spot ETFs last week, ending a six-week inflow streak. Ethereum fell nearly 10% to $2,110, and Solana retraced to $84.
Hyperliquid emerged as a bright spot, rising 10% to $45 on its new Coinbase partnership and the debut of pre-IPO SpaceX trading, which saw $40 million in volume in 12 hours. The move drew criticism from CME Group and Intercontinental Exchange, which lobbied regulators to rein in Hyperliquid, citing risks of price manipulation and sanctions evasion.
Meanwhile, President Trump's family trust disclosed crypto-related stock trades, including Coinbase, Robinhood, and mining firms, while his administration advanced pro-crypto legislation. The filings cover over 3,600 transactions from January through March 2026.
In other news, rapper Drake called for Sam Bankman-Fried's release on a new album, though prediction markets put the odds at just 7%. Aave restored WETH loan-to-value ratios to pre-exploit levels, and Lombard Finance moved over $1 billion in Bitcoin-backed assets from LayerZero to Chainlink CCIP.