Bitcoin Slides to $82,780 as Gold and Silver Shed $550B in Hours
- —Comex gold fell 2.11% to $4,197.40 an ounce; silver dropped 3.59% to $62.47
- —Bitcoin slid 2.7% to an intraday low of $82,780, then reclaimed $83,000
- —CME FedWatch shows a 68.1% probability of a 25 bps Fed hike in October
- —10-year and 30-year Treasury yields hit 5.20% and 5.51%; DXY reached a two-month high of 101.39
Why it matters: Bitcoin failed to attract haven flows during the metals selloff, undercutting the 'digital gold' thesis as rising yields pressure both gold and growth assets.
Source: Bitcoin.com