Bitcoin’s usual lifeline is failing as a bond market warning puts $80,000 at risk
BTC when published $81,644Now $80,577 ▼ −1.31% since it was published
Bitcoin briefly lost the $81,000 footing on Oct. 22, while the Nasdaq lost more than 2%, spot gold dropped about 2.7% to $4,025, and silver sank about 5.8% to near $54.63. The 10-year Treasury yield fell from 5.146% to below 5%, marking its biggest one-day drop in more than two years. Brent crude hit an intraday high of $114.70, the highest reading this year. Four assets that usually move in different directions fell together while government bonds rallied. Lower yields mean higher bond prices, reflecting Treasury buying while the Fed's policy range sits at 3.75% to 4%. The Oct. 22 selloff fits a scenario where funding sends investors into bonds and out of riskier holdings.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
