Crypto News

Bitcoin Falls as US Treasury Yields Rise On January 8, the price of Bitcoin dropped to a low of $92,508, a significant decrease from its recent high of $102,357 just two days earlier. This 10% drop has been attributed to the spike in US Treasury yields, specifically the 10-year rate which reached 4.67% on January 7. This increase was driven by an unexpectedly strong ISM Prices Paid Index and higher-than-anticipated JOLTS job openings. The Impact of US Treasury Yields on Bitcoin Bitcoin, along with other cryptocurrencies, has been known for its volatile nature. However, recently it has been affected by external factors such as the rise in US Treasury yields. The surge in yields has caused investors to shift their focus away from riskier assets like Bitcoin and towards traditional investments such as bonds. This has resulted in a decrease in demand for cryptocurrencies, causing their prices to fall. What Does This Mean for Crypto Traders? For crypto trader...