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Home›Crypto›Bitcoin›Bitcoin falls as US PPI and oil push bond yields higher

Bitcoin falls as US PPI and oil push bond yields higher

Bitcoin’s drop coincided with a new 19-year high in the 30-year US bond yield amid inflation concerns and further oil-price strength.

Reported · Written up by our desk · Bitcoin

Bitcoin fell alongside US stocks as data pointed to higher inflation pressures, Cointelegraph reported.

The move also tracked a sharp rise in US Treasury yields, with the 30-year bond yield hitting a new 19-year high, adding to rate-sensitive pressure on risk assets.

Cointelegraph linked the inflation backdrop to an additional surge in oil prices, describing it as part of an environment that has been lifting both yields and market anxiety.

The report said the combination of US PPI overshoot, oil strength, and the latest yield spike drove the broad selloff that pulled Bitcoin lower.

Latest closeBitcoin $77,087.06 ▼1.5%

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Sources

CointelegraphBitcoin falls on US PPI overshoot as 30-year bond yield hits new 19-year high

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