In an alarming fall, Bitcoin succumbed to a new low for the month as it dropped to March’s nadir. This comes amid a turbulent period where yields are witnessing a significant rise.
Bitcoin, the bellwether of the crypto industry, seems to be on shaky grounds. The crypto giant is facing a cold wave in the form of rising yields, affecting its market prices drastically.
The primary reason for this landslide could be a change in the sentiment of investors, stemming from rising yields. A hike in the yield rate tends to draw investors away from non-yield-bearing assets like Bitcoin, causing a dip in its demand and hence the price.
March has typically been a tough month for Bitcoin, with declines noted in the past. The coming weeks would further reveal if Bitcoin can pick up from this slump or continue its downward journey. Read More
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