The crystal structure and magnetic properties of YCo$_5$ compound have been studied by neutron diffraction, in the pressure range $0 le p le 7.2 GPa$. The experimental data are analyzed together with results from the combined Density Functional and Dynamical Mean-Field Theory. A good agreement between the experimentally determined and calculated values of cobalt moments is shown. Our scenario for the behavior of YCo$_5$ under pressure, is the combined action of the Lifshitz transition with a strong local electron-electron interaction.
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