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: .DXY, RIOT, MSTR, BTC.CM=, COIN, ETH.CM=, US10Y, MARA, CLSK,
Keywords: markets, ethereum/usd coin metrics, cryptocurrency, business news, riot platforms inc, microstrategy inc, bitcoin/usd coin metrics, u.s. 10 year treasury, breaking news: markets, coinbase global inc, investment strategy, breaking news: investing, cleanspark inc, technology, marathon digital holdings inc, dxy us dollar currency index,
Source: https://www.cnbc.com/2024/04/02/crypto-market-today.html