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Bitcoin Under Pressure as Dollar Rises In Tandem With US Treasury Yields


Bitcoin is retracing its weekend gains, as expectations of tighter monetary policy in the United States push Treasury yields and the dollar higher. The worldwide crypto market valuation is now $1.86 trillion, down 4.56 percent from the previous day.


The overall crypto market volume over the last 24 hours has decreased by 5.26 percent to $93.12 billion dollars. The overall volume of all stable coins is now $77.33 billion, accounting for 83.04 percent of the total 24-hour volume of the crypto market.

Bitcoin Under Pressure as Dollar Rises In Tandem With US Treasury Yields

The current price of Bitcoin is $41,728.87. Bitcoin's market share is now 42.36 percent, up 0.02 percent from the previous day.

According to a report, Morgan Stanley, a major American investment bank, has more than doubled its holdings in Grayscale Bitcoin Trust since April.
Due to the increasing Chinese crackdown on cryptocurrency, Sparkpool, the world's second-largest Ethereum mining pool, has halted operations.

On Monday, the mining pool said that it has temporarily halted new user registrations in mainland China in reaction to Chinese authorities taking further steps to curb cryptocurrency adoption in the nation.

Top Crypto Prices on September 28


Bitcoin: $41,825.38

Ethereum: $2,903.80

Tether: $1.00

Cardano: $2.12

Binance Coin: $337.93

XRP: $0.9272

Solana: $133.93

Polkadot: $27.52

Dogecoin: $0.2001

Story first published: Tuesday, September 28, 2021, 16:31 [IST]
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