Bitcoin rebounds above 100 million won as US yields and dollar weakness lift market
Bitcoin rose above the 100 million-won mark on Thursday, helped by easing US Treasury yields and a softer dollar, while major altcoins slipped.
The cryptocurrency recovered to trade above 100 million won on the Bithumb exchange, with its price in dollars passing the $80,000 threshold. The rally coincided with a modest decline in the 10-year US Treasury yield and a weakening dollar linked to a stronger yen. In contrast, leading altcoins such as Ethereum, Solana and Ripple posted small losses. Analysts linked the move to reduced concerns over September rate hikes by the Federal Reserve.
Why it matters
The move shows how shifts in US interest rates and currency values can quickly affect cryptocurrency prices.
In this story
bitcoinaltcoinsUS Treasury yielddollar indexyencryptocurrency marketrate hike concerns
