Bitcoin falls as U.S. Treasury yields rise day after day

Cryptocurrency market leader Bitcoin fell as U.S. Treasury interest rates continued to rise day after day.

On the U.S. cryptocurrency exchange Coinbase, the price of each bitcoin was trading at $66,303, down 2.54% from 24 hours ago.

It rose to the $69,400 range on the 20th, losing more than 4% compared to the $70,000 mark on the verge of breaking the $70,000 mark.

Bitcoin has been on the rise recently due to expectations for the introduction of a virtual currency-friendly policy as the U.S. presidential election approaches, but the surge in U.S. Treasury yields has been hampered.

The 10-year U.S. Treasury yield rose 0.028% from the previous day to 4.234%, the highest level since late July.

As U.S. Treasury yields rise sharply, anxiety that the Federal Reserve's move to cut rates, which determines the benchmark interest rate, could be delayed, is dampening investor sentiment.The bearish New York stock market was also under downward pressure, with the

S&P 500, Dow and Nasdaq Composite closing down 0.92% and 0.96% and 1.60%, respectively.

Ethereum, the second-largest market cap, fell 4.87% and Solana fell 0.41%.