Cryptocurrencies

Bitcoin Slumps Below $100,000 as Economic Data Push Rates Higher

Bitcoin lost 5% to $96,525 at 2:40 p.m. in New York after topping $100,000 on Monday. — Bitcoin lost 5% to $96,525 at 2:40 p.m. in New York after topping $100,000 on Monday.
Photographer: Angel Garcia/Bloomberg

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By David Pan

January 7, 2025 at 7:42 PM UTC

This article is for subscribers only.

Bitcoin’s march back above $100,000 didn’t last long. The token slid the most in more than two weeks on Tuesday, joining a retreat in US stocks, as fresh economic data sent Treasury yields soaring.

The original cryptocurrency lost 5% to $96,525 at 2:40 p.m. in New York after topping $100,000 on Monday for the first time since Dec. 19. Most other major tokens slid as well, with Ether down 7.5% and XRP off almost 6%.