Bitcoin tumbled to $77,000 early Monday, dragged down by rising bond yields and a sharp spike in oil prices that rattled risk assets across the board. Major cryptocurrencies followed suit, posting deep losses as a wave of outflows swept through crypto ETFs — a rout one trader described as an 'exodus.' In a separate but notable development, SpaceX quietly made its first major debut on the Hyperliquid platform, adding a fresh narrative to a grim trading day.
Macro headwinds hit hard
The 10-year Treasury yield climbed above 4.8% this morning, while Brent crude jumped past $95 a barrel after OPEC+ signaled tighter supply. That double blow sent equities and crypto sliding in tandem. Bitcoin's drop to $77,000 marks its lowest point this quarter and wiped out gains from the past two weeks. Ether, Solana, and other altcoins saw steeper percentage declines.
The timing isn't great. Crypto ETF flows had already been cooling, and Monday's selloff accelerated redemptions. Data from multiple issuers show net outflows across spot Bitcoin and Ethereum ETFs for the third straight day, with investors pulling roughly $280 million since Friday's close.
SpaceX lands on Hyperliquid
Amid the sea of red, SpaceX's move onto Hyperliquid caught the attention of traders. The aerospace company deployed what sources describe as a 'substantial' amount of capital on the decentralized perpetuals exchange, marking one of the highest-profile institutional entries into the platform. Hyperliquid, known for its low-latency order book and high leverage, has been gaining traction among professional traders but rarely sees a name like SpaceX step in directly.
It's unclear whether SpaceX is hedging, speculating, or testing infrastructure. The company hasn't issued a statement, and Hyperliquid's team declined to comment on specific users. But the timing — right as the broader market is under pressure — has sparked chatter on crypto Twitter about whether SpaceX sees a buying opportunity or is simply diversifying its treasury.
Where things stand
Bitcoin has since recovered slightly to $77,800 as of press time, but the mood remains cautious. The bond market isn't showing signs of easing, and oil prices could climb further if geopolitical tensions escalate. ETF outflows are likely to persist until macro conditions stabilize.
On the Hyperliquid front, the community is watching for any on-chain clues about SpaceX's next move. If the firm starts opening large positions, it could signal a directional bet — or just a liquidity test. Either way, it's the kind of story that keeps traders refreshing their screens on a rough Monday.
