Bitcoin fell to $89,800, down from its $108,000 peak last month, as strong U.S. jobs data and rising Treasury yields cast doubt on potential Fed rate cuts. The 10-year Treasury yield hit 4.799%, unsettling markets. Analysts are watching the upcoming CPI report for clues on inflation and policy direction, with crypto investors bracing for more volatility.
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Ethereum also slumped, dropping below $3,000 due to rising supply levels and bearish market sentiment. Despite hitting oversold RSI levels, Ethereum faces challenges in maintaining key support. Analysts point to recovering funding rates as a potential sign of a rebound but warn of ongoing risks if bearish pressure persists.
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