The U.S. Treasury market faced intense volatility following a weak $16 billion 20-year bond auction, triggering a sharp selloff in equities. Investors reacted to disappointing demand, pushing the 20-year yield to 5.12%, above the auction award of 5.047%. The 10-year yield climbed to 4.609%, while the 30-year yield hit 5.099%, steepening the yield curve.
What this means is that investors saw weaker-than-expected demand for the 20-year Treasury bonds, causing yields to rise sharply and devaluing current bond prices. Ultimately, this bond market crisis—which we covered its upbringing earlier this week—led investors to reassess the dollar’s strength, shifting capital elsewhere.
This major selloff had a significant impact on the stock market as well. The bond market turmoil turned out to be a major hit on Wall Street, causing the Dow to plunge over 800 points and the S&P 500 to drop by over 80 points.
To be precise, the Dow Jones Industrial Average fell 817 points, or 1.9%, while the S&P 500 dropped 95.85 points, or 1.6%, following the weak $16 billion 20-year Treasury bond auction.
Bitcoin Collecting Momentum While Stocks Plunge
We might finally be living in an era where Bitcoin holds no strings attached to Wall Street. Just today, amidst this Treasury market collapse, the market-leading cryptocurrency surged to a new all-time high (ATH), defying traditional market turbulence. As bond yields spiked and the Dow plunged 817 points, BTC continued to attract investors looking.
In this article, we cover how Bitcoin surged to a record-breaking value per coin—despite broader market turmoil.
As investors navigate uncertainty, Bitcoin’s surge could signal a broader shift in market sentiment. With traditional assets facing challenges and macroeconomic volatility persisting, BTC’s rally might suggest growing interest in decentralized alternatives.
If you’re just getting started on WEEX, there’s also a welcome bonus available through the Bitcoinsensus link. New users can claim a 20% deposit bonus, with rewards of up to 400 USDT as part of a broader 30,000 USDT welcome pool. It’s a simple way to boost your initial trading capital while exploring the platform.
