Bitcoin drops below $84,000 as Treasury yields climb
The 10-year note closed Wednesday at 5.11%, up 15 basis points in one day, and the five-year note auction cleared at the highest yield since 2006, according to CoinDesk.
Bitcoin traded near $83,900, down more than 2% in 24 hours, after reaching nearly $87,300. Dogecoin fell 7%, to just above 9 cents, and ZEC, XRP and HYPE lost between 5% and 6%. CoinDesk also points to oil rising more than 4% to nearly $104 a barrel and an S&P Global survey showing the fastest output growth in more than five years.
According to CryptoSlate, bitcoin's intraday low on September 23 was $83,500.
Sources: CoinDesk · CryptoSlate