Crypto
High Treasury Yields Dampen Bitcoin Rally Following Softer PCE Inflation Data
The August PCE inflation data showed softer-than-expected price growth, but high Treasury yields kept the rally in Bitcoin from holding.
Bitcoin briefly reached $85,500 after the release of the data on September 30, but the move faded as the 10-year Treasury yield remained near 5.3% and the 30-year yield stayed at its highest level since 2002.
According to CoinGecko, Bitcoin was trading just above $83,100 during Thursday morning hours.