Bitcoin Extends Losses as Global Jump in Bond Yields Deters Dip Buying
- Largest digital asset posted worst week since November 2022
- Risk of higher-for-longer rates tempers bets on quick rebound
The logo for Bitcoin on a screen in Hong Kong, China.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Bitcoin added to losses racked up during the token’s worst week since November last year as the prospect of higher-for-longer borrowing costs saps demand for riskier investments across global markets.
The largest digital asset fell almost 1% toward $26,000 as of 9:53 a.m. in New York on Monday, trading near a two-month low after shedding more than 10% in the seven days through Sunday. Smaller coins like Ether and XRP also slid.