"Bitcoin (BTC) Plummets Due to Surge in U.S. Treasury Yields"

On the 7th (local time), the American economic media outlet CNBC reported that "the surge in U.S. Treasury yields is burdening the risk asset market, causing Bitcoin (BTC) to plummet by more than 5%."

The media stated, "According to the Institute for Supply Management (ISM) data, the growth in the service sector last December progressed faster than expected, spreading inflation concerns," and analyzed that "this has led to an increase in the 10-year Treasury yield, exerting downward pressure on the risk asset market."

Additionally, it added, "The uncertainty that the Federal Reserve Board (Fed) may cut rates fewer times than the market expects is acting as an obstacle to the rise in virtual asset prices."

Meanwhile, BTC is trading at $97,468, down 4.33% from the previous day, based on the Binance Tether (USDT) market as of 03:12 on the 8th.