BTC slides under $79K as bond selloff hits risk assets, Alpenglow testnet goes live

BTC slides under $79K as bond selloff hits risk assets

Bitcoin slides under $79,000 as bond selloff pressures risk assets Bitcoin fell roughly 1.3% from Thursday's close, briefly trading under $79,000 as a roughly $500 million long liquidation cascade hit perpetual venues. The move tracked a broader risk-off session — Friday delivered the worst day for U.S. equities since March, with the move attributed to a global bond selloff that pushed long-end yields higher. Spot BTC closed Friday near $80,600 after opening above $81,000. Solana, more sensitive to liquidity conditions, traded heavier than majors.

Anchorage and J.P. Morgan Asset Management embed validator yield in stablecoin reserves Anchorage Digital and J.P. Morgan Asset Management unveiled a yield-bearing stablecoin reserve model that embeds proof-of-stake validator infrastructure directly into institutional reserve management on Solana. The framework lets institutional issuers route a portion of stablecoin reserves through staked SOL exposure managed under custody, rather than holding cash equivalents only. It is the most concrete bridge to date between traditional asset management and Solana's native yield curve, and a signal that institutional reserve mandates are starting to recognize PoS yield as a legitimate cash-equivalent alternative. Track Solana liquid staking yields

Solana staking ETFs cross $1B in cumulative inflows Cumulative net inflows into Solana staking ETF products crossed the $1 billion mark this week, with allocations remaining positive even on sessions where spot SOL traded lower. The pattern points to allocators sizing positions against infrastructure metrics — validator economics, TVL in native SOL, staking participation — rather than dollar price. Solana's dollar-denominated TVL sits near $5.5 billion as of mid-May, down roughly 56% from la August 2025 peak above $11.5 billion, but TVL measured in native SOL crossed 80 million SOL this week, an all-time high.

Alpenglow consensus overhaul live on public testnet The largest consensus upgrade in Solana's history is now live on public testnet. Alpenglow restructures the block production and finality path, with Anatoly Yakovenko publicly arguing that early testnet behavior validates the design's tradeoffs around MEV resistance and finality latency. Mainnet activation is still subject to validator readiness and audit cycles, but the testnet milestone removes one of the larger uncertainty buckets that has hung over Solana's 2026 roadmap.

Jito Foundation and Solana Company push institutional infrastructure into Asia-Pacific The Jito Foundation and Solana Company announced a strategic partnership focused on expanding institutional infrastructure across Asia-Pacific. The framing is regulatory access plus distribution: custody partners, exchange listings, and structured product issuance in jurisdictions where Asian institutional capital is most active. The partnership reinforces Jito's positioning as the canonical liquid staking primitive on Solana — its TVL sits well above any direct competitor.

Jane Street rotates from BTC ETFs into ETH exposure Jane Street cut its Bitcoin ETF holdings by approximately 70% in the most recent reporting period and added $82 million in Ethereum ETF exposure. The rotation is small relative to Jane Street's total book but instructive on positioning: the firm's BTC ETF arbitrage trade has been compressing as basis tightens, while ETH ETF flows have shown more upside on volatility. ETH trades near $2,194 at the time of writing, down 2.73% on the day.

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