Crypto market slides as 10-year US Treasury yield tops 5%
- —10-year US Treasury yield topped 5%, the highest since 2007
- —Market-implied odds of an October Fed hike rose to 75% from 55%
- —US Treasury will buy back up to $6 billion of long-dated bonds
- —Bitcoin and altcoins slid along with other risk assets
Why it matters: Rising bond yields pull capital away from risk assets and weigh on crypto; the next move hinges on inflation data and Fed signals.
Source: Crypto Insiders