Cryptocurrency Market Retreats Amid Global Bond Yield Spike

The cryptocurrency market is facing headwinds as global bond yields have spiked, causing Bitcoin (BTC) to fall to its month-to-date low of $75.6K on Tuesday's Wall Street open.

Crypto markets are awaiting a key US Senate vote on the CLARITY Act, which could impact the industry.

Ethereum (ETH) is holding below the support-turned-resistance level at $2,400, while remaining structurally resilient. Ripple (XRP) is trading lethargically below $1.30, indicating growing risk-off sentiment after Monday's surge near $1.50.

Circle has launched its Arc mainnet, a decentralized Layer 1 blockchain built for financial markets and stablecoin payments. The mainnet accepts Circle's US Dollar-pegged stablecoin, USDC, to ensure settlement certainty.