Bitcoin Drops Below $66K Amid Rising Oil Prices and Treasury Yields

Bitcoin dropped to $65,500 after rising oil prices and higher US Treasury yields made bonds more appealing than cryptocurrencies. The decline was part of a broader crypto market slump, driven by inflation concerns and geopolitical tensions.

The good news for Bitcoin is that exchange-traded funds (ETFs) have seen significant inflows over the past week, totaling $981.2 million. This could support a potential rally towards $70,000, but some caution remains due to overheated buying.

Peter Schiff, a well-known Bitcoin critic, will be hosting a podcast with Anthony Pompliano, a strong supporter of Bitcoin, to debate whether the cryptocurrency is a bubble.