Bitcoin briefly falls below $67,000 as bond yields surge

With the possibility of Donald Trump, the Republican presidential candidate, winning increasing, Bitcoin, which had attempted to surpass $70,000 the previous day, temporarily dropped to $67,000 (
As of 6:50 a.m. on the 22nd, Bitcoin had fallen 1.44% from 24 hours earlier on CoinMarketCap, a global coin market relay site.
On this day, Bitcoin traded between a high of $69,462 and a low of $66,829. Bitcoin briefly collapsed from $67,000.
This is analyzed as being due to a sharp rise in the yield of US Treasury bonds. On this day, the yield of the 10-year Treasury note, the benchmark for US bonds, rose 0.10% from the previous trading day to 4.18%.
"Bond yields are rising because the economy is doing well and the Fed is cutting interest rates," said Sam Stovall, chief investment strategist at CFRA.
"This is due to the outlook that the pace of growth will slow."