Crypto Bear Market

Bitcoin futures basis yields have fallen below two-year U.S. Treasury returns since February, marking a sharp reversal from the rich carry available during the bull market. The shift is weighing on futures activity while also signaling tighter market structure, deeper liquidity and fewer easy arbitrage opportunities.

Bitcoin slipped back into the $60,000 area on Wednesday as the broader crypto bear market stayed intact. The move came alongside weaker gold and oil prices, while tech and AI stocks continued to attract capital.