[Analysis: Rising U.S. Treasury Yields Weaken Market's Willingness to Allocate to Bitcoin] Odaily Planet Daily reports that analysts believe the rising yields on U.S. Treasury bonds and bonds from major global economies are weakening the market's willingness to allocate to high-risk, non-interest-bearing assets like Bitcoin. Meanwhile, concerns over potential supply risks in the Strait of Hormuz, driven by the situation in Iran, are intensifying, with some speculative funds flowing into commodity markets such as crude oil, copper, and sulfur. Market data shows that Bitcoin has dropped more than 3% in the past 24 hours, retreating approximately 10% from its May 6 peak of around $82,500. Amid the market downturn, U.S. spot Bitcoin ETFs continue to experience capital outflows. U.S.-listed spot Bitcoin ETFs saw a net outflow of approximately $1.26 billion this week, marking the largest weekly outflow since January of this year. The previous week also saw outflows nearing $1 billion, with a cumulative net outflow of over $2.26 billion across the two weeks. Additionally, there is speculation that funds may be shifting toward potential SpaceX IPO-related trades. Currently, some blockchain-based pre-market derivative trades related to the SpaceX IPO have reached volumes of several million dollars. (CoinDesk)