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 check out our new each day information present overlaying all the high tales in 5 minutes, downloadable on Apple Pod or Spotify.

GM!

At this time’s high information:

• Crypto majors are crimson as yields rise, oil spikes; BTC at $77.4k
• SpaceX goes dwell 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 Spike

Bitcoin fell from $82,000 Thursday to sub-$77,000 by Sunday, and U.S. Treasury yields have been the seemingly set off.

The ten-year yield hit 4.6% and the 30-year crossed 5% for the primary time since Might 2025. Odds of a charge hike in 2026 jumped to 40%.

The ETFs didn’t assist, with Bitcoin spot ETFs bleeding $1 billion in internet 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 at present).

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 vibrant 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 night time and has already seen $40M in quantity on Hyperliquid—so you’ll be able to count on that to get extra protection. And maybe, new pushback…

Wall Avenue’s Greatest Exchanges Are Making an attempt to Kneecap Hyperliquid

CME Group and Intercontinental Alternate (NYSE father or mother) have been privately lobbying the CFTC and members of Congress to rein in Hyperliquid, Bloomberg reported Friday.

The exchanges instructed regulators that Hyperliquid’s decentralized construction and largely nameless buying and selling atmosphere might permit unhealthy actors to govern costs or circumvent monetary sanctions, significantly in oil markets, the place Hyperliquid has seen explosive quantity progress for the reason that Iran battle 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 trade now captures 34-44% of the decentralized derivatives market, with $619 billion in whole Q1 2026 buying and selling quantity.

The Hyperliquid Coverage Heart, the trade’s newly shaped US advocacy arm, fired again Friday calling the considerations “unfounded,” and arguing that “Hyperliquid affords enhanced market transparency, publishing a whole onchain document of each transaction in actual time, making it a uniquely hostile atmosphere 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 at present) forward of its June 12 Nasdaq debut. And if it sees the demand many are speculating, count on TradFi to beome even angrier.

Trump’s Ethics Submitting Reveals Crypto Trades Whereas Passing Crypto Laws

President Trump’s household belief filed two obligatory 278-T disclosure varieties with the Workplace of Authorities Ethics on Thursday, overlaying greater than 3,600 securities transactions from January by 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. Probably the most substantial transaction occurred on February 10, with a reported worth between $100,001 and $250,000. The submitting additionally consists of 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 somewhat than actual greenback quantities. Trump himself reported a private stake of not less than $51 million in digital property.

Almost 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 actual second the ethics language that may prohibit authorities officers from profiting on crypto is being negotiated for inclusion within the Senate flooring model of the invoice.

Drake Referred to as for SBF’s Launch on a New Album

Drake 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 observe “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 seemingly, with the percentages at simply 7%.

🌎 Macro Crypto and Markets

• Crypto majors are crimson 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%), Steady (+7%) and HYPE (+6%) led high movers
• Oil +1% at $102; Gold even at $4,540
• Inventory futures are barely crimson with the Nasdaq down 0.3% because the US-10 yr 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 fully in Bitcoin
• SpaceX went dwell 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 internet inflows on Friday and a internet outflow of $995M on the wee; the ETH ETFs noticed $66M in outflows
• Technique introduced it should repurchase $1.5 billion principal quantity of 2029 convertible notes, in a shock transfer on Friday

Meme Coin Tracker

• Meme leaders have been very crimson; 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 going on in NFTs?

• NFT leaders have been largely 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 undertaking Ten Thousand Tokens from Rhynotic mints out at ~0.02 ETH (together with fuel charges) and does a 5x to 0.1 ETH flooring