News by CNBC TV18 on TradingView, 2026-09-24 — cnbctv:3fe43b8d3094b:0

Bitcoin fell sharply in trade on September 24, extending pressure across the broader cryptocurrency market as rising US Treasury yields, stronger-than-expected business activity and weaker risk appetite weighed on digital assets.

Bitcoin was down 3.80% at around $83,880 over the previous 24 hours, although the cryptocurrency remained up more than 10% over the past week.

Ethereum was also lower, trading around $2,682.

The immediate pressure came from the US bond market.

Stronger-than-expected US business activity pushed Treasury yields higher, with the 10-year yield rising to 5.11% and the two-year yield climbing to 4.85%. The 10-year yield was at its highest level since 2007, according to market commentary.

Purvang Mashru, Lead Analyst at BitDelta India, said the rise in yields and changing expectations around US interest rates had added pressure to risk assets. He noted that the reversal was particularly pronounced in higher-beta cryptocurrencies, with Dogecoin, Avalanche and Cardano among the sharper decliners.

According to the CoinSwitch Markets Desk, rising US borrowing costs are a key macro concern.

Higher yields can increase the government's interest burden and potentially add to fiscal deficits, which could require further debt issuance. This, in turn, could contribute to a cycle of higher yields and tighter financial conditions.