Bitcoin, linked to stock prices, falls to $67,000 on macroeconomic uncertainty

The price of Bitcoin, which exceeded the 69,000 dollar mark the previous day, has fallen to the 67,000 dollar range (approximately 10 million yen). At the same time, the overseas Bitcoin price based on CoinMarketCap
The index fell 2.22% from the same time the previous day to $67,287. The downward trend is believed to be due to macroeconomic uncertainty.
Cointelegraph reported that "uncertainty in the macroeconomic environment has had a major impact on Bitcoin prices."
"Bitcoin is usually considered to have little correlation with traditional markets, but over the past month, the correlation index has remained above 80%," the report said.
Recently, the correlation between Bitcoin and other traditional assets has increased, so macroeconomic uncertainty is likely to affect Bitcoin.
First, interest rates on U.S. Treasury bonds soared. On the 21st (local time), the interest rate on the 10-year U.S. Treasury bond rose 11.9 basis points (1 basis point = 0.01 percentage point) from the previous trading day.
The yield rose to 4.194% on a yearly basis, its highest since late July. This has raised the prospect that the Federal Reserve may ease the pace of monetary easing,
The New York Stock Exchange was also in turmoil. This week is also the week when major companies will announce their financial results. Companies scheduled to announce their third quarter financial results this week include IBM, Tesla, Amazon, and General Motors.
(GE), Coca-Cola, and 114 other companies. However, Bitcoin derivatives-related indicators are stable. Cointelegraph reported that "Investors are slamming Bitcoin on concerns about traditional markets."
"The weight of investment in Bitcoin has been reduced," but "derivative indicators such as Bitcoin futures have remained stable," the report said.