Bitcoin Falls Along with U.S. Stocks as Treasury Yields, Oil Prices Rise
Dow Jones
3 hours ago
0653 GMT - Bitcoin falls to a two-and-a-half-week low following declines in U.S. stocks overnight as Treasury yields rise and oil prices rally amid ongoing conflict in the Middle East. Bitcoin's correlation to U.S. equities is rising while the surge in yields along with the dollar creates a difficult environment for speculative assets that depend heavily on liquidity and lower real yields adjusted for inflation, Zaye Capital Markets analyst Naeem Aslam says in a note. "The immediate direction depends less on crypto-specific headlines and more on whether Treasury yields, the dollar and inflation expectations begin to ease." Bitcoin falls 0.9% to $82,683, having earlier reached as low as $82,265, LSEG data show.
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