**Bitcoin Hugs $83K as 30-Year Yield Cracks 5.6% and Lighter Catches a 17% Cold From Robinhood Perps 🧊**

Bitcoin traded near $83,164 in European hours on Wednesday, slipping 0.57% since midnight UTC, as the 30-year U.S. Treasury yield crossed 5.6% on Tuesday, its highest level since June 2002, according to CNBC. The 10-year yield also reached a fresh 2007 high near 5.3%. Bitcoin BTC $83,901.28 has now been in a consolidation pattern since Sept. 21's failed breakout attempt at $87,300, with the largest cryptocurrency down about 1% over 24 hours from a peak of $84,400 during Tuesday's U.S. session. Constituents of the CoinDesk 100 were split evenly, with 50 higher and 50 lower.

Traditional markets offered little direction, with S&P 500 futures up 0.27% and the Stoxx 600 up 0.74% in morning trade, while Brent crude traded at $96.43, well below the $100 level that accompanied Monday's crypto selloff. No obvious catalyst was behind the morning's drift, with attention turning to the U.S. personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, due before the Wall Street open, alongside Micron earnings after the close.

Decentralized finance assets led losses on the day, as the CoinDesk DeFi index (DFX) fell 2.3%, the worst performance in the index family. Aave AAVE $165.81 retreated 4.4% after leading Tuesday's gains with an 11% jump. Lighter dropped 17% over 24 hours after Robinhood said it will offer crypto perpetual futures to U.S. customers through its own derivatives arm.

Derivatives positioning continued to cool, with the market-wide taker long/short volume ratio balanced for a second day after sellers held a slight edge two days ago at 46.9% to 53.1%. Liquidations roughly halved to $196 million from $389 million the prior day, according to CoinGlass. Open interest slipped to $147 billion from nearly $150 billion two days ago, and volume fell 16.9% to $181 billion. Bitcoin futures open interest dropped to 625,000 BTC, the lowest since Jan. 1, from 644,000 the prior day and 650,000 the day before, a decline that began in June even as the price climbed from $57,000 to over $80,000, suggesting spot buying has powered the rally rather than leverage. Binance traders remained bullish on BTC, with the long/short ratio rising to 1.42 for retail accounts and 1.49 for whale accounts.