Bitcoin was trading around $84,000 on Sunday September 27, down about 4% from its weekly high of $87,363 reached on Thursday. The US 10-year Treasury yield climbed above 5% for the first time since 2007, making government debt a direct competitor to bitcoin in large portfolio allocation decisions. Meanwhile, US bitcoin ETFs attracted $2.4 billion in weekly inflows, their strongest weekly intake in nearly a year, bringing total AUM to $108.4 billion. Bitcoin is set to close the third quarter with a gain of approximately 43.5%, its second-best Q3 on record. The US jobs report expected on Friday October 2 will be the next test for bitcoin, currently stuck below $85,000.
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