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Bitcoin moved slightly on Friday amid pressure caused by rising Treasury bond yields, as cryptocurrency markets awaited the repercussions of a major hack targeting the Bitget platform.
The world’s largest digital currency fell by 0.1% to reach $83,999.60 by 09:42 a.m., recording a 3.4% gain for the week.
Prices of other cryptocurrencies moved sideways, yet they preserved their weekly gains amid a wave of optimism sparked by a favorable U.S. regulatory climate that helped extend the sector’s rally.
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Bitget hack worth $352 million
Digital-asset exchange platform Bitget said late Thursday that it suffered a security breach affecting digital assets worth about $351.60 million. The platform immediately halted withdrawals, while deposits and trading continued.
Gracy Chen, the CEO, said investigators identified links between the hack and a North Korean hacking group, although the identity of the perpetrators has not been conclusively established yet.
The company detected unauthorized transfers from some digital wallets on Thursday evening, including affected assets such as Ether, XRP, USDT, and USDC. The hack targeted both hot and cold wallets.
This is the biggest hack in the cryptocurrency sector by value during 2026. Bitget confirmed that the losses were fully covered by a user protection fund exceeding $464 million.
Rising yields curb Bitcoin gains
Bitcoin started the week on solid ground, but its gains sharply declined after a sudden jump in government bond yields.
U.S. Treasury 10-year yields jumped to levels not seen since 2007 this week, stoking growing concerns about higher interest rates and tighter liquidity at an accelerating pace. Bond yields around the world rose in response.
This rise came following a series of tough warnings from Federal Reserve officials, who indicated that stubborn inflation may require further interest-rate hikes after last week’s 25-basis-point increase.
High interest rates cast a negative shadow over cryptocurrencies, weakening the appeal of investing in volatile, speculative assets that do not generate steady returns.
Today’s cryptocurrency prices: Altcoins are rising
Other cryptocurrencies outperformed Bitcoin on Friday and posted weekly gains.
Ether, the world’s second-largest cryptocurrency, fell 0.4% to $2,674.36, while XRP dropped 1.8%.
Solana, Cardano, and BNB all rose by between 0.1% and 2.5%.
In the meme coin market, Dogecoin rose by 0.6%, while $TRUMP added 2%.
