Bitcoin falls to $83,000 while altcoins unwind Friday’s rally
Bitcoin fell 1.7% to $83,000, though the CoinDesk 100 dropped 2.6% as Friday’s biggest gainers reversed and oil climbed back above $100.
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Bitcoin fell 1.7% to $83,000, though the CoinDesk 100 dropped 2.6% as Friday’s biggest gainers reversed and oil climbed back above $100.
Quant jumped 39% over 24 hours and 93 of 100 CoinDesk 100 constituents rose, with the altcoin season index at its highest in more than three months.
The 10-year Treasury yield reached its highest since 2007, sending U.S. stocks and crypto lower before Asian and European traders bought the dip.
Thirty-eight of the 100 CoinDesk 100 constituents were lower on the day, with bitcoin cash up 32% over 24 hours on a CME futures listing.
Starknet and arbitrum gained more than 17% while the 10-year Treasury yield slipped back below 5%, with 98 of CoinDesk 100 constituents advancing.
Crypto ended the week in a more buoyant state after weak U.S. jobs data reduced the chances of a Fed interest-rate increase and Uniswap gained on a link-up with Robinhood.
BTC touched its lowest level since September 2024 before rebounding to $59,770, while ETH slipped further and another $1 billion in futures positions were wiped out.
Concerns about STRC, the dividend-paying preferred stock from Strategy continue to dominate market sentiment.
While the Federal Reserve held interest rates, Chair Kevin Warsh made it clear the U.S. central bank is more worried about inflation than growth.
BTC dropped to its lowest since April 13 and ETH broke below $2,000 as U.S. airstrikes stoked inflation concerns, wiping out nearly $900 million in leveraged longs.