Bitcoin gained $283 from yesterday's $84,284, settling at $84,567, a 0.31% move that kept price range-bound within its recent weekly advance.Not noise, with one exception on the macro side. The Bitget $352M hack is a confirmed major exchange breach that raises near-term custodial risk awareness across the industry, even though Bitcoin price absorbed the news without breaking. The bigger structural risk driver today is the 19-year high in Treasury yields, which markets are pairing with a four-Fed-hike path by June 2027, representing a meaningful tightening of the macro environment for long-duration assets.
Bitget confirmed a $352M security breach and suspended withdrawals; the CEO cited IP clues suggesting a DPRK-linked hacking group, and more than $170M moved to an unidentified address according to The Block.
US Treasury yields reached their highest level since 2007, with traders pricing four Fed rate hikes by June 2027, according to CoinDesk, creating a sustained real-yield headwind for Bitcoin.
US spot Bitcoin ETFs recorded $347M in net inflows on Wednesday even as price pulled back from its recent high above $87,000, bringing five-day cumulative inflows to $2.65 billion, per Cointelegraph.
JPMorgan estimated Bitcoin's production cost at roughly $85,000 and noted that a sustained move above that threshold could ease miner selling pressure, with current price just below that level.
Hashrate held at 920.5 EH/s and fees sit at 1 sat/vB across all priority tiers, reflecting a network operating from a position of security strength with minimal congestion despite the macro volatility.
Market Snapshot
Market Cap
$1.70T
24h Volume
$38.17B
Dominance
58.6%
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