Bitcoin price falls to $75.6K September low as global bonds hit multidecade highs
Bitcoin price action weakened over market nerves prior to the Senate CLARITY Act vote, while surging bond yields pressured risk assets across the board.
Bitcoin's price plummeted to its lowest point of the month, reaching $75.6K, as global bond yields surged to multi-decade highs. This downturn occurred prior to the Senate CLARITY Act vote, which added to market uncertainty. TradingView data revealed Bitcoin dipping below $76,000, erasing a previous rise to $79,600. The CLARITY Act, a procedural vote, was due at 2:15pm Eastern time.
Despite optimism from some, Polymarket users only assigned a 14% chance of the act becoming law in 2026. Trading firm QCP Capital noted that even if the bill passed, its regulatory impact would be limited and there were still multiple hurdles to overcome. US stocks closed down on the day due to rising global bond yields. The US 10-year yield broke the 5% mark for the first time since November 2023, reaching 5.041%.
This level had not been seen since June 2007. Globally, the average 10-year yield for the world's seven largest economies hit 4.285%, its highest since the 2008 Global Financial Crisis. In the UK, the 30-year bond yield peaked at 5.95%, the highest since March 1998, while Japan's 10-year yield rose to 3.04%, the highest in 30 years.
These high yields were attributed to concerns over a potential global inflation surge, driven by high oil prices and a widening Middle East conflict.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
