(CNBC) Bitcoin slumped on Tuesday as a spike in Treasury yields weighed on risk assets broadly. The price of the flagship cryptocurrency was last lower by 5% at $96,525.50, according to Coin Metrics. Ether slid 8% and the broader market of cryptocurrencies, as measured by the CoinDesk 20 index, dropped 7%. Crypto stocks Coinbase and MicroStrategy fell more than 8% and 9%, respectively.
Bitcoin drops below $97,000 as Treasury yields pressure risk assets
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