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US Business Boom Sends Bitcoin Below $84,000 Amid Rising Treasury Yields

Guavy AI Editorial Team
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Bitcoin's price fell below $84,000 on Wednesday after a surprise jump in US business activity sent Treasury yields higher.

The data release triggered a rapid drop within about an hour, reversing a morning rally that had carried Bitcoin above $87,000 on Binance.

The S&P Global flash Purchasing Managers' Index (PMI) showed the fastest growth since July 2021, with September's composite reading rising to 58.4 from 56.0 in August.

However, the report also flagged rising costs, as input prices climbed at the fastest rate since October 2022 due to higher oil prices and fuel transport bills.

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