Bitcoin Falls Below $40,000 Amid US Tightening Concerns

[Asia Economy New York=Special Correspondent Joselgina] Bitcoin prices plummeted on the 11th (local time) as concerns over tightening by the U.S. central bank, the Federal Reserve (Fed), spread.

According to economic media CNBC, as of 3:54 PM Eastern Time, Bitcoin was trading at $39,982.60, down 7.52% from the previous day.

This decline occurred after the U.S. 10-year Treasury yield reached 2.78%, marking a new high since 2019. CNBC reported that risk assets like Bitcoin tend to fall when interest rates rise.