Bitcoin Hits New High Above $51K, Shrugging Off Rising Bond Yields

Bitcoin Hits New High Above $51K, Shrugging Off Rising Bond Yields

Rising bond yields are a threat to prices of hedge assets, but bitcoin is soaring as gold falls.


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The world’s top cryptocurrency by market cap, Bitcoin, has hit the $18,000 mark and is still dropping. The crypto has dipped by 6% within the last 24 hours and more in the previous week. BTC/USD breached the $19,000 triple bottom support when it crashed from $20,000 to $18,000, signaling a major selling sentiment among Investors. Bitcoin Hits $18,000 There are several reasons for Bitcoin’s bearish run, but most refer back to the Federal Reserve’s aggressive approach to inflation.  Rising Bond Yields: the US 10-year bond yield has risen 3.25% since June, as sell-offs....