CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Bitcoin slides to $83,300 as bond yields hit highest level since 2007

CoinDesk logo

Published on

Add as a preferred source on Google
Bitcoin slides to $83,300 as bond yields hit highest level since 2007

Bitcoin slides to $83,300 as bond yields hit highest level since 2007

The 10-year Treasury yield reached its highest since 2007, sending U.S. stocks and crypto lower before Asian and European traders bought the dip.

Bitcoin fell to $83,344, down 1.23% since midnight UTC, giving back an early recovery as the selloff extended into a second day.

The U.S. 10-year Treasury yield reached its highest level since 2007, driving equities and crypto lower together.

The dollar was the only thing bid, up 0.13% to 101.24, with gold down 0.71%, silver 1.18% and Nasdaq 100 futures 1.04%.

has given back gains from an early Thursday recovery, now trading at $83,344, down 1.23% since midnight UTC, with a bond selloff that pushed the U.S. 10-year Treasury yield to its highest since 2007 weighing on crypto for a second day.

The move has taken the whole market with it, ether ETH $2,648.01

is down 1.55%, XRP lost 2.87% while solana (SOL) is trading at $113.14 having lost 1.61%. While the smaller tokens led a slight recovery in the European morning, they are now suffering the hardest, with NEAR and HYPE down by 3.32% and 3.94% respectively.

The dollar index (DXY) added 0.13% to 101.24 - its highest level since July, while gold is down by 0.71% to $4,257 and U.S. equity futures trend lower again. S&P 500 futures lost 0.61% while Nasdaq 100 tumbled by more than 1%.

Taker flow stays bearish for a second day: Shorts made up over 52% of the 24-hour taker volume, which rose 10% to $250 billion even as open interest fell nearly 6% to $149 billion.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.