On Friday, Bitcoin saw a significant drop, falling to $78,600 before stabilizing slightly above $79,000, down about 4% from its previous high of $82,000. This decline was part of a broader market selloff triggered by rising government bond yields, particularly the US 10-year Treasury yield, which climbed to 4.58%, its highest level in over a year. The surge in yields has led traders to rapidly shift their expectations for Federal Reserve interest rates, with nearly 50% odds now assigned to a potential rate hike by year-end, a stark contrast to just a week ago when the likelihood of cuts was considered. The selloff extended beyond cryptocurrencies, affecting equities and commodities, with the Nasdaq 100 and S&P 500 also experiencing declines. Crypto-related stocks were hit hard, with Coinbase and Robinhood dropping significantly. Despite the advancement of the CLARITY Act, which had initially provided support for Bitcoin, the overarching narrative of rising inflation and tightening monetary policy has overshadowed legislative developments, leaving Bitcoin's future uncertain as it tests lower support levels.