Bitcoin Pulls Back to $84,000 as Bond Yields Fly Higher
- Bitcoin fell below $84,000 early Thursday, down about 3% over 24 hours and more than $3,500 below Wednesday's early high above $87,000, as U.S. borrowing costs hit levels not seen in nearly two decades.
- Flash Composite PMI jumped to 58.4 in September from 56.0 in August, the strongest reading since July 2021, while Treasury sold $70 billion of five-year notes at a 5.033% yield, the highest since June 2006.
- The 10-year Treasury yield closed Wednesday at 5.11%, its highest level since July 13, 2007, while Chris Williamson, chief business economist at Global Market Intelligence, noted companies are gaining pricing power.
- Bitcoin Cash jumped 28% to nearly $349 over 24 hours after CME Group announced plans to list Futures, while Alex Kuptsikevich, senior analyst at FxPro, said investors are shifting speculative capital from Bitcoin into altcoins.
- Despite the pullback, Bitcoin remains up about 9% over seven days per CoinGecko data, though it sits about 34% below its October 2025 record of $126,080, as price dips continue to attract new buyers.
39 Articles
39 Articles
Bitcoin Gives Back More Than $3,500 as 10-Year Treasury Yield Reaches a 19-Year High
Bitcoin traded below $84,000 early Thursday, down about 3% over 24 hours and more than $3,500 below Wednesday’s early high above $87,000, as U.S. borrowing costs hit levels not seen in nearly two decades. The 10-year Treasury yield closed Wednesday at 5.11%, up 15 basis points on the day and its highest close since July 13, 2007, according to the Treasury Department’s daily yield curve. Five- and seven-year yields also posted their highest close…
The U.S. Treasury bonds rates shot yesterday, reaching the highest levels in about two decades. The disclosure of above-expected economic activity data and the most conservative tone of Federal Reserve (Fed) leaders' statements pressed the Treasures. The 30-year title yields reached the highest level since 2004, closing to 5.402%. The ten-year maturity title advanced from 4.97% to 5.116% per year, the highest rate since 2007. Amid market tension…
Citi sees no Fed rate cuts until June 2027, crypto in trouble?
Citigroup has pushed its forecast for the Federal Reserve’s next interest rate cut to June 2027 after stronger US jobs data reduced concerns over the labor market, leaving Bitcoin and the crypto market facing the prospect of higher borrowing costs…
Cointelegraph
The New York LedgerBitcoin Threatens Sub-$84,000 Breakdown as Long Liquidations Spike
Bitcoin loses upward momentum to dip below $84,000 as BTC long liquidations near $300 million over a four-hour period.
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