{"id":12825,"date":"2023-08-18T17:25:36","date_gmt":"2023-08-18T17:25:36","guid":{"rendered":"https:\/\/isafespend.com\/investing\/bitcoin-falls-as-treasury-yields-climb-amid-interest-rate-concern\/"},"modified":"2023-08-18T17:25:36","modified_gmt":"2023-08-18T17:25:36","slug":"bitcoin-falls-as-treasury-yields-climb-amid-interest-rate-concern","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=12825","title":{"rendered":"Bitcoin falls as Treasury yields climb amid interest rate concern\u00a0"},"content":{"rendered":"
\n

Bitcoin prices on Thursday fell to the lowest level since June, while Treasury yields climbed, as traders are betting that a resilient economy will encourage the Federal Reserve to raise interest rates further.<\/p>\n

The cryptocurrency
\n BTCUSD,
\n -6.74%<\/bg-quote>
\n declined 3.4% over the past 24 hours to as low as $27,705 on Thursday, according to CoinDesk data. Bitcoin has gained over 70% so far this year, but is still down almost 60% from its all-time high in 2021.\u00a0<\/p>\n

\n

\u201cWhen you throw in what is happening in the bond market, it becomes easy for Bitcoin prices to soften,\u201d said Edward Moya, market analyst at OANDA.<\/p>\n

High interest rates typically make risky investments, such as crypto, less appealing.\u00a0<\/p>\n

The yield on the 10-year Treasury note
\n BX:TMUBMUSD10Y
\n rose 5.6 points to 4.313% on Thursday, according to Dow Jones market data. The yield on the 30-year Treasury
\n BX:TMUBMUSD30Y
\n gained 5.9 basis points to 4.415%, on track to its highest close since 2011.<\/p>\n

Meanwhile, \u201cit looks like some leveraged funds are ramping up bearish bets that Bitcoin will drift lower,\u201d Moya wrote in a Thursday note.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin prices on Thursday fell to the lowest level since June, while Treasury yields climbed, as traders are betting that a resilient economy will encourage the Federal Reserve to raise interest rates further. The cryptocurrency BTCUSD, -6.74% declined 3.4% over the past 24 hours to as low as $27,705 on Thursday, according to CoinDesk data.<\/p>\n","protected":false},"author":1,"featured_media":12826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-12825","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nBitcoin falls as Treasury yields climb amid interest rate concern\u00a0 | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Bitcoin prices on Thursday fell to the lowest level since June, while Treasury yields climbed, as traders are betting that a resilient economy will\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=12825\" \/>\n<meta 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