WS #15487
Bitcoin has lost its October gains, dropping below $85K as the spike in US Treasury yields reduces the appeal of non-yielding assets. The correlation between crypto and tech growth stocks is strengthening, with Bitcoin acting as a high-beta proxy for risk appetite. Ethereum options activity is also elevated, indicating uncertainty about near-term price direction. The market is currently pricing in continued downside pressure until yields stabilize.
Crypto Market Volatility
Bitcoin has lost its October gains, dropping below $85K as the spike in US Treasury yields reduces the appeal of non-yielding assets. The correlation between crypto and tech growth stocks is strengthening, with Bitcoin acting as a high-beta proxy for risk appetite. Ethereum options activity is also elevated, indicating uncertainty about near-term price direction. The market is currently pricing in continued downside pressure until yields stabilize.