Bitcoin slips below $85,000 as 5% Treasury yield returns to haunt risk assets
Bitcoin fell below $85,000 on Sept. 23 after stronger-than-expected US business activity sent Treasury yields higher and flushed leveraged longs. The reversal broke the momentum behind a rebound that had accelerated as Bitcoin pushed through a large concentration of short positions earlier this week. Selling intensified after S&P Global released its September flash purchasing managers’ […] The post Bitcoin slips below $85,000 as 5% Treasury yield returns to haunt risk assets appeared first on CryptoSlate.
Key Takeaways
- Bitcoin fell below $85,000 on Sept.
- 23 after stronger-than-expected US business activity sent Treasury yields higher and flushed leveraged longs.
- The reversal broke the momentum behind a rebound that had accelerated as Bitcoin pushed through a large concentration of short positions earlier this week.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in DeFi
Treasury's 5-Year Auction Hits 20-Year Yield High: What This Means for Bitcoin
The Treasury's 5-year note auction yield hit a 20-year high, and rising rates across the curve could weigh on bitcoin. The post Treasury's 5-Year Auction Hits 20-Year Yield High: What This Means for Bitcoin appeared first on BeInCrypto.
Valour Launches AI-Managed Smart Crypto Fund SP
TL;DR DeFi Technologies says subsidiary Valour has launched Smart Crypto Fund SP. The product uses an AI-driven strategy from Neuronomics to rebalance exposure among leading digital assets. It is a specialized investment fund product, not a US spot ETF.…
Kalshi says it is not being investigated by the CFTC over trading activity
The prediction market says unusual patterns in its ether perpetual market are the result of liquidity incentives.