Bitcoin Slips Below $84K as US Interest Rates and Treasury Yields Weigh
Bitcoin's price slipped below $84,000 on Friday as it continued to moderate after early-week gains. The cryptocurrency briefly traded above $87,000 on Monday before gradually correcting, which may indicate profit-taking and macroeconomic uncertainty-related turbulence.
The US Federal Reserve is expected to log a second consecutive interest rate hike in October, with markets pricing in a 66% probability of this occurring. Treasury yields are also pushing into territory not seen in two decades, with the 10-year yield climbing above 5.2% for the first time since 2007.
Gold's price remains under pressure, trading below $4,300 and aligning with prevailing bearish momentum signals. The next key support zone lies around $4,200, an area that previously attracted buying interest.