The crypto market tumbled today as Bitcoin price dropped below $66,500 and large-cap altcoins sold off
Risk-off sentiment booms
Bitcoin and the rest of the crypto market have sunk today due to receding bets on looser Federal Reserve monetary policy following stronger-than-expected U.S. manufacturing data
his reduction in easing expectations, coupled with the belief that interest rates will remain high in the near future, prompted a significant rise in the benchmark 10-year U.S. Treasury yield, which surged from 4.18% to 4.33%