Bitcoin briefly falls below $90,000...Maybe due to diminished expectations for interest rate cuts

Bitcoin temporarily collapsed below $90,000 after it became clear that employment indicators were still strong and the possibility of an interest rate cut was greatly reduced.
As of 8 a.m. on the 14th, Bitcoin was trading at 94,352, up 0.06% from 24 hours earlier on CoinMarketCap, a global coin market relay site.
However, Bitcoin collapsed from $90,000 around midnight, dropping to $89,260.
During the same period, Ethereum and Solana also plummeted by nearly 10%. This is due to the fact that the employment report released last weekend exceeded market expectations, raising the possibility of an interest rate cut.
This has pushed the 10-year Treasury yield (market interest rate) closer to 4.8%, the highest in 14 months.
When market interest rates soar, investors turn to risky assets such as Bitcoin.
A large amount of crypto assets (virtual currencies) was sold. This caused virtual currencies to plummet all at once. However, the decline has now been largely recovered, with Bitcoin rising 0.06% and Ethereum
The declines in both stocks have narrowed significantly, with Nikkei Inc. down 4.53% and Solana down 3.07%.