Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Written by :

Reuters

Published on :

11 January, 2021

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

SINGAPORE, Jan 11 (Reuters) - Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low as rising U.S. yields lifted the dollar broadly and hurt non-income paying assets.

Bitcoin fell as far as $33,447, its lowest since Jan. 6. Ethereum which often moves in tandem with bitcoin, fell as much as 20% to a one-week low of $1,007.51. (Reporting by Tom Westbrook; Editing by Himani Sarkar)

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