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Bitcoin Tumbles $5,000 In 24 Hours As Interest Rates Jump
Bitcoin fell more than 4.76% on Tuesday to $66,134 amid rising Treasury yields and strength in the U.S. dollar. CNBC reports: On Monday morning, it was trading at about $70,000 before data came out showing growth in the manufacturing sector for the first time since September 2022 and investor bets ...
Bitcoin fell more than 4.76% on Tuesday to $66,134 amid rising Treasury yields and strength in the U.S. dollar. CNBC reports: On Monday morning, it was trading at about $70,000 before data came out showing growth in the manufacturing sector for the first time since September 2022 and investor bets on June rate cuts began to cool. Data from CryptoQuant shows a spike in that exchange's reserves -- which typically signals a boost in selling activity -- that coincides with the sudden drop in bitcoin price late Monday night.
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