Bitcoin, Ethereum, Dogecoin Tumble As US 10-Year Yield Touches 16-Year Highs: Analyst Says, 'Fake Satoshi' Account Opens Window To Buy The Dip
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin have seen a drop in value as the U.S. 10-year yield surged to its highest level in over 16 years. The yield increase was driven by unexpectedly robust manufacturing data, indicating the strength of the U.S. economy and the possibility of more rate hikes in the future. Meanwhile, the global crypto market capitalization stands at $1.12 trillion, a 3.16% increase in the last day. The US stock market also witnessed a rise as legislators reached a short-term agreement, avoiding a government shutdown.
October 03, 2023 | 2:30 am
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NEGATIVE IMPACT
Bitcoin's price has dropped due to the surge in the U.S. 10-year yield. However, analysts predict a rebound to $28,400, indicating a potential opportunity to buy the dip.
The surge in the U.S. 10-year yield has led to a drop in Bitcoin's price. However, analysts predict a rebound, indicating a potential opportunity for investors to buy the dip.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's price has dropped due to the surge in the U.S. 10-year yield.
The surge in the U.S. 10-year yield has led to a drop in Dogecoin's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum's price has dropped due to the surge in the U.S. 10-year yield.
The surge in the U.S. 10-year yield has led to a drop in Ethereum's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100