Bitcoin Trades 3.2% Lower as U.S. Stocks Slide and Treasury Yields Ease

Bitcoin (BTC) was down 3.2% over the 24 hours through 7:25 p.m. ET (23:25 UTC) on Oct. 29, while U.S. stocks fell and Treasury yields eased. A price snapshot at that time put BTC at $78,683.

The Nasdaq fell 1.5%. Alphabet shares lost 12% after disappointing results, and ServiceNow shares sank 23% after the company fell short of forecasts. Microsoft slipped about 1% despite beating estimates.

The 10-year Treasury yield declined seven basis points to 4.98%, while the two-year yield fell 7.5 basis points to 4.66%. Separately, odds of a Federal Reserve rate hike in December fell below 80%, down from nearly 90% a day earlier.

U.S.-listed spot Bitcoin exchange-traded funds recorded about $424 million in inflows over three consecutive days. Tuesday accounted for $176 million, and BlackRock’s iShares Bitcoin Trust (IBIT) remained the leading fund in the group.