Gold drops 3.4% as yields rise, Bitcoin slips near $83,000
Image: Crypto.newsGold fell 3.4% on September 28 to a seven-week low, a move the Kobeissi Letter called statistically rare based on daily gold price data dating to 2006. Treasury yields surged as traders raised bets on another Federal Reserve rate hike. Bitcoin slipped toward $83,000 amid rising yields and a stronger U.S. dollar. U.S. spot Bitcoin ETFs saw continued demand despite the high yield macro environment.
Key points
- The Kobeissi Letter called gold's single-day decline statistically rare per 2006 onward price data.
- Treasury yields rose as traders raised expectations for another U.S. Federal Reserve rate hike.
- Bitcoin slipped toward $83,000 amid rising yields and a stronger U.S. dollar.
- U.S. spot Bitcoin ETFs saw continued demand despite the high yield macro environment.
Why it matters
Rising Treasury yields and Fed rate hike expectations are pressuring non-yielding assets including gold and Bitcoin. Continued U.S. spot Bitcoin ETF demand provides a partial offset to the macro headwinds for the asset.
Price context · BTC
At publication
$83,073.00
Now
$83,073.00
Change since
+0.00%
7 days · dashed line = publication
Sources · 3 publishers
Blockonomi
Tier 3
Gold Drops 3.4% as Treasury Yields Hit 2007 High, Bitcoin Slips Near $83,000
CoinDesk
Tier 1
Live updates: Bitcoin rebounds above $84,000 as Treasury yields steady
Coverage timeline
- First reported by Crypto.news
- Confirmed by Blockonomi
- CryptoVideos brief published
- 1 more publisher added to sources
How this brief was made. Our system found this event in 3 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
