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Bitcoin tumbles $5,000 in 24 hours as interest rates jump - TL;DR CNBC

Bitcoin tumbles $5,000 in 24 hours as interest rates jump

Publishing timestamp: 2024-04-02 12:12:43


Summary

Bitcoin fell for the second day due to rising Treasury yields and a stronger U.S. dollar. The drop was also influenced by strong U.S. economic data and concerns about inflation. Large bitcoin holders transferring significant amounts to exchanges also contributed to the price decline. Stocks tied to bitcoin's performance, such as Coinbase and MicroStrategy, also saw losses. The upcoming bitcoin halving event in April could further impact the performance of mining stocks.


Sentiment: NEGATIVE

Tickers: .DXYRIOTMSTRBTC.CM=COINETH.CM=US10YMARACLSK

Keywords: marketsethereum/usd coin metricscryptocurrencybusiness newsriot platforms incmicrostrategy incbitcoin/usd coin metricsu.s. 10 year treasurybreaking news: marketscoinbase global incinvestment strategybreaking news: investingcleanspark inctechnologymarathon digital holdings incdxy us dollar currency index

Source: https://www.cnbc.com/2024/04/02/crypto-market-today.html


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