Bitcoin, Ethereum crash continues as US 10-year Treasury yield surpasses June high

Bitcoin, Ethereum crash continues as US 10-year Treasury yield surpasses June high


Bitcoin (BTC) and Ethereum’s native token, Ether (ETH), started the week on a depressive note as investors braced themselves for a flurry of rate hike decisions from central banks, including the U.S. Federal Reserve and Bank of England.

Bitcoin price fails to hold $20,000

On Sep. 19, BTC’s price has failed to regain the $20,000 psychological support zone. The BTC/USD pair slipped by 6.5% to around $18,250, while ETH dropped 4% to approximately $1,280.

Trending: Media Silent On Jill Biden’s Hurricane Heels After Melting Down Over Melania Trump’s

Their gloomy performance came as a part of a broader decline that started in mid-August, wherein BTC and ETH wiped a total of 28% and 37% off their market valuation, respectively.

BTC/USD and ETH/USD daily price chart. Source: TradingViewA 500 bps global rate hike ahead?

This week, the Fed and a number of its global

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend