Bitcoin · Ethereum · South Korea · CoinDesk
Bitcoin, copper, stocks, yields all fall; gold rises
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Key facts
- Bitcoin BTC $80.955,28 has dropped more than 2% in the past 24 hours, with some of the other major coins such as XRP (XRP), ether ETH $2.442,34 and solana (SOL) sliding even further
- Analysts at 10x Research still prefer holding bitcoin while that unwind plays out, but only as long as BTC holds above $78,000
- CME fed funds futures now price in only a 29% chance of the central bank hiking its benchmark rate into the 4%–4.25% range later this month
- The yield on the 10-year note, the benchmark borrowing rate, has dropped by eight basis points to 5.08%, extending the pullback from the recent peak of 5.36%
Summary
Bitcoin BTC $80.955,28 has dropped more than 2% in the past 24 hours, with some of the other major coins such as XRP (XRP), ether ETH $2.442,34 and solana (SOL) sliding even further. Futures tied to copper, a closely watched barometer of global economic health, fell nearly 1%, extending Wednesday's 1.6% decline. At the same time, Treasury yields are falling, meaning bond prices are rising, while gold is up 1%. Together, the moves point to investors reducing exposure to risk and seeking safety, with some stagflation fears mixed in.