Bitcoin Price Drops Amid Rising Bond Yields and Pepeto Presale Gains Momentum

Bitcoin's recent price drop to $76,700 has left traders wondering if the world's largest cryptocurrency can reclaim ground before the summer. According to analysts, the Bitcoin price prediction for May remains cautious, with a target range between $75,000 and $82,000 depending on macro clarity.

The decline in Bitcoin's price is attributed to rising bond yields and record spot ETF outflows, which have pulled risk capital out of the market. This has led to a decrease in institutional buying and an increase in selling pressure, making it challenging for Bitcoin to recover quickly.