ETF redemptions and rising Treasury yields push Bitcoin under $77K as whales buy and market structure shifts

Bitcoin slid below $77,000 as ETF redemptions topped $1 billion and US 30‑year Treasury yields rose to about 5.14%, a level not seen since the Global Financial Crisis, contributing to heightened selling pressure; the price briefly touched roughly $76,000 during the pullback ^{[1] [2] [3]}.

On-chain metrics indicate large holders continued to accumulate during the downturn: the number of wallets holding at least 100 BTC increased to 20,229 over the past year and these whale wallets added to positions even as broader market volatility rose ^[3].

Market-structure analysis from XWIN Research Japan frames the weakness as deeper than a failed technical support level, arguing that ETF growth and corporate treasury allocations have altered the 2026 market dynamic; industry figures Andrew Parish and Tillman Holloway also discussed market conditions, artificial intelligence and regulation in recent appearances ^{[4] [2]}.

Observers point to the combination of ETF outflows, rising sovereign yields and changing market structure as primary drivers of the recent decline, even as whale accumulation contrasts with retail selling behavior ^{[1] [2] [4] [3]}.