Macro· ★★★· bearish·

Bitunix: Bitcoin's next move hinges on US Treasury yields and CPI report

  • —10-year US Treasury yield topped 5.35%, the highest in 24 years
  • —From October 3 to 9, bitcoin fell 3.80%, Ethereum 8.39% and XRP 7.09%
  • —Only about a fifth of the 300 top cryptocurrencies gained; the median week was -5.18%
  • —September US CPI is forecast at 3.6% year-on-year, up from 3.4% previously
Why it matters: A hotter-than-expected CPI print could push Treasury yields higher and add fresh selling pressure on bitcoin and altcoins.
#BTC#ETH#XRP
Source: BeInCrypto DE
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