- Bitcoin dropped to $75,560, its lowest level in September, ahead of the US Senate procedural vote on the CLARITY Act
- Global bond yields surged to multi-year highs as oil prices near $100 fueled inflation concerns
- Central banks are expected to raise interest rates, creating headwinds for crypto markets
Bitcoin fell to $75,560 at Tuesday’s Wall Street open in September, marking month-to-date lows as global bond yields spiked and markets awaited a US Senate procedural vote on the CLARITY Act. The legislation would clarify regulatory roles between the SEC and CFTC. However, according to Polymarket, the bill has only 14% odds of becoming law in 2026. QCP Capital noted that procedural progress does not guarantee final passage. Meanwhile, US 10-year bond yields passed 5% for the first time since November 2023, reaching 5.041%. Reuters reported that the average 10-year yield for the world’s seven largest economies hit 4.285%, its highest since the Global Financial Crisis. Consequently, the Kobeissi Letter predicted central banks would tighten policy and enact rate hikes. “Monetary policy is shifting, rate hikes are returning, and the next battle against inflation has started,” the firm wrote. Oil prices near $100 per barrel continued to fuel inflation concerns, with WTI crude approaching $105.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
