Live updates: Bitcoin sinks below $83,000 as Iran talks stall and oil climbs
ZEC led losses among major tokens as Brent pushed toward $108 and traders added to bets on another Fed rate increase ahead of this week's inflation and jobs data.
Bitcoin fell to $83,061.4, extending losses from the weekend. According to Investing.com, this was due to surging Treasury yields and a lack of progress in US-Iran peace talks, which dented appetite for risk-driven markets.
The 10-year US Treasury yield jumped past 5%, levels last seen in 2007, as markets bet on more interest rate hikes to control rising inflation. Higher rates make government debt appear safer and more attractive, limiting market liquidity and negatively impacting speculative assets like crypto.
Other cryptocurrencies, including ZEC, also led losses among major tokens. This occurred as oil prices, specifically Brent, pushed toward $108, and traders added to bets on another Fed rate increase ahead of upcoming inflation and jobs data, as reported by CoinDesk.
Brief written by urgent.news from CoinDesk, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
