TLDR
- Bitcoin fell toward $78,000-$79,000 last week as Treasury yields hit 12-month highs
- US-based Bitcoin ETFs saw net outflows of $290.4 million on May 15, following an outflow of $630.4 million on May 13.
- The US Senate Banking Committee advanced the clarity bill in a 15-9 vote on May 14.
- Ethereum ETFs also saw outflows, while Solana ETFs remained a relative bright spot.
- The 10-year Treasury yield moved above 4.55%, putting pressure on risky assets including cryptocurrencies.
Bitcoin fell to between $78,000 and $79,000 last week as rising Treasury yields and inflation fears weighed on risk assets. The coming days will test whether this is a short reset or the beginning of a deeper decline.
ETF outflow warning
Spot the United States Bitcoin ETFs recorded $290.4 million in net outflows on May 15, according to Farside Investors. This followed a large inflow of $630.4 million on May 13 and a short inflow of $131.3 million on May 14.
Cryptocurrency ETF Flows – Weekly Summary 📊$ Bitcoin: – $995.5 million net outflows$ Ethereum: – $255.2 million net outflows$ sol: +$58.2 million net flows
Bitcoin and Ethereum funds drained capital last week, while Solana quietly emerged as the only positive inflow 👀 pic.twitter.com/K5S4YV7ugy
– Coin Central (@realcoincentral) May 17, 2026
ETF inflows have become one of the clearest signs of institutional demand. When outflows accumulate, they increase pressure – especially when Bitcoin is already trading near key support levels.
Ethereum ETFs have also seen outflows. Farside data showed $65.7 million in departures on May 15 and $36.3 million on May 13. Ethereum The demand for funds is lower than the demand for Bitcoin at the moment.
Solana was the exception. ETFs were flat on May 15, but the weekly total remained positive after earlier inflows. Solana stands out as a major altcoin to watch if investors are looking for alternatives to Bitcoin.
The law of clarity moves forward
Passed by the US Senate Banking Committee The law of clarity In a vote of 15 to 9 on May 14. The draft law aims to define when cryptocurrencies should be treated as securities or commodities, and also addresses the rules for stablecoins.
Two Democrats voted for it at the committee level. But the bill still faces hurdles on the Senate floor, with concerns about anti-money laundering rules and potential conflicts of interest.
If the bill is introduced, it could benefit Coinbase and issuers of stablecoins and tokens like XRP, Solana, and Ethereum. A delay or retreat may dampen the optimism that followed the vote.
Bond yields are the main threat to the macroeconomy
CoinCentral reported that 2 years and 10 years Treasury revenues It hit a 12-month high last week. The 10-year bond yield moved above 4.55%, while the 30-year bond yield reached its highest level since 2007, according to Investing.com.
Higher yields make safer assets more attractive. This reduces the appetite for risky assets such as cryptocurrencies.
Bitcoin has also been trading below its 200-day moving average, adding technical concern as well as overall pressure.
If yields decline, risk sentiment could improve quickly. If it continues to rise, both Bitcoin and altcoins may suffer.
What to watch for altcoins
Solana, XRPBNB, Dogecoin, and Chainlink could all see movement depending on where capital flows next. But altcoins usually need the stability of Bitcoin to maintain their position.
If Bitcoin continues to fall below $80,000, smaller coins will likely face greater losses.
ETF data this week, any Senate updates on the CLARITY Act, and movements in Treasury yields will be the main signals of where crypto is headed next.
