Bitcoin hits two-month low of $90,957 after investors sell riskier assets on sharp rise in US bond yields | Stock Market News
Source: Live Mint
Bitcoin slumped to an almost two-month low as investors dumped riskier assets after a sharp rise in bond yields.
The original cryptocurrency dropped 3.6% to $90,957 on Monday, its lowest since Nov. 26 and well below the peak of $108,316 it reached in December. Other cryptoassets were also in the red, with Ether down 5.3% as of 11:36 a.m. in London.
Stronger-than-expected US jobs data on Friday prompted traders to curtail bets that the Federal Reserve may cut interest rates again any time soon, exacerbating an already slim start to 2025.
Bitcoin’s next low may come around the $88,000 mark if bearish sentiment wins out, Kuptsikevich added, with a quick pullback from there to around $74,000 also possible.
The debut of US exchange-traded funds tied directly to Bitcoin, along with President-elect Donald Trump’s outspoken support for the digital-assets industry, lifted the cryptocurrency to a record high last year. That optimism has waned in 2025, with some analysts suggesting that traders are waiting for certainty following Trump’s Jan. 20 inauguration
