Bitcoin off session lows as US yields continue to advance

Bitcoin has just now fallen to a fresh session low. The move comes as the US bond markets remain under pressure. Now the 10 Year note yield has lifted to above 1.62%. That is further underpinning the rebound in the dollar, as was noted here earlier this afternoon. The EUR/USD has now fallen back underneath 1.13 once more. The higher dollar has also added some further pressure onto the cryptocurrency space. That is understandable, as the likes of Bitcoin are the ultimate zero interest rate alternative to fiat currencies in general and the dollar in particular. Hence, higher US yields today are diluting the attractiveness of BTC. The lead coin has in fact, now fallen to a fresh session low, dropping to as low as 46,298 earlier on. It is rebounding a little now, but that rebound is far from conclusive. BTC is currently trading at 46,670