Bitcoin experienced a rapid decline after approaching the $100,000 mark during the Christmas rally, slipping to around $95,300—a loss of 3.1% within 24 hours. This downturn occurred amid a broader cryptocurrency market retreat, with significant losses for major coins like ETH, SOL, and XRP, which dropped 4% to 7%. The shift in sentiment is attributed to rising long-term interest rates, suggesting a significant change in the economic landscape. At 4.63%, the 10-year Treasury yield is close to its 2024 high, which may impact monetary policy decisions by the Federal Reserve. Analysts note that recent upward movements in yields, following a rate cut in September, are unprecedented and could lead to further stress in the market if not managed carefully. Overall, despite the recent gains, Bitcoin has more than doubled year-to-date, but current trends indicate potential headwinds as interest rates rise.

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