Crypto Gets Battered by Macro Signals — Market Talk
The macroeconomic signals seen in trading this week are taking a toll on major cryptocurrencies. "Today's sell-off looks macro-triggered but crypto-amplified," says Lacie Zhang of Bitget Wallet. Zhang cites new record-high Treasury yields and its corresponding push on the U.S. dollar as factors directly pressuring bitcoin and other digital assets--with overall investor sentiment favoring yield-bearing safe assets. Additionally, low trading volumes in crypto have made the moves look sharper, Zhang adds. Bitcoin falls by 3% to $83,098, ethereum is down 5% to $2,564, XRP slides 4.7% to $1.43, and solana is off 4.2% to $115.98. ([email protected])