Live updates: Bitcoin continues lower as bond yields take center stage
Bitcoin traded around $83,500 two hours before the U.S. market open, slipping about 2.6% in the past 24 hours as other major crypto tokens also fell. U.S. stock index futures pointed to further declines while bond markets remained steady after a sharp jump in Treasury yields the previous day.
Why It Matters
The move in U.S. Treasury yields — with the 10-year climbing sharply the prior day — has pressured risk assets across crypto and equities, and incoming U.S. economic data and Federal Reserve speakers could reinforce volatility. Market participants will be watching initial jobless claims, new home sales and Fed commentary for direction.
Key Facts
- Bitcoin price: $83,500
- Bitcoin 24-hour change: -2.55%
- Ether and Solana 24-hour change: around -3%
- XRP 24-hour change: -7.5%
- Nasdaq futures: -0.9%
Bitcoin was trading near $83,500 roughly two hours before the U.S. stock market open, down 2.55% over the previous 24 hours. Other large-cap cryptocurrencies also retreated: ether and solana declined by about 3%, while XRP fell roughly 7.5% in the same period. These moves came alongside weakness signaled by equity futures, with Nasdaq futures down 0.9% and S&P 500 futures off about 0.5%.
The bond market had steadied early Thursday after a notable move the day before. The U.S. 10-year Treasury yield jumped nearly 20 basis points in the prior session, reaching its highest level in more than 19 years, a surge that weighed on risk assets across markets. That sharp increase in yields has been a key driver of recent volatility in both equities and crypto.
Investors were preparing for a slate of U.S. data and Fed commentary that could influence market sentiment. Thursday’s calendar includes initial jobless claims, which are expected to again reflect unusual strength in the labor market, in addition to August new home sales. A pair of Federal Reserve speakers are also scheduled to speak, offering potential further cues on policy expectations.
Against that backdrop, traders appeared cautious heading into the U.S. session, with the interplay between Treasury yields, economic releases and central bank remarks set to determine near-term market direction for both risk assets and fixed income.
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