CoinDesk
Bitcoin traded at $83,500 two hours before the U.S. market open, down 2.55% over 24 hours. Ether and Solana fell close to 3%, while XRP dropped 7.5%. U.S. stock futures also pointed lower, with the Nasdaq off 0.9% and the S&P 500 down 0.5%.
Why it matters
The moves follow a sharp bond selloff that pushed the 10-year Treasury yield nearly 20 basis points higher, to its highest level in more than 19 years. Higher yields are weighing on risk assets as investors assess the outlook for U.S. rates and growth.
Market impact
Treasury trading was steady early Thursday, but initial jobless claims, August new-home sales and remarks from Fed speakers were ahead. The employment data are expected to continue showing strength, keeping the rates outlook in focus for crypto and equities.
Frequently asked questions
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How much did Bitcoin fall over the 24 hours covered?
Bitcoin was down 2.55% over 24 hours and traded at $83,500 two hours before the U.S. market open.
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How did other major crypto assets perform?
Ether and Solana were down close to 3%, while XRP fell 7.5%.
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What happened to the U.S. 10-year Treasury yield?
The yield surged nearly 20 basis points during the bond selloff, reaching its highest level in more than 19 years.
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What were U.S. stock futures signaling?
Futures pointed to a second day of declines, with the Nasdaq down 0.9% and the S&P 500 off 0.5%.
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Which U.S. events were on investors' calendars Thursday?
Investors were watching initial jobless claims, August new-home sales and remarks from Fed speakers.
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