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Economy

Bitcoin loses momentum as macroeconomic uncertainty weighs on risk assets

By The Likely · Updated Sep 28, 5:24 PM ET · Drawn from 3 sources · Written by AI, checked against sources

Bitcoin fell as much as 2.3% to $82,568 on September 28 amid broad macroeconomic uncertainty before paring losses. The decline followed a rally above $87,000 earlier in September that had coincided with strong demand for U.S. spot Bitcoin ETFs.

Why it mattersRising Treasury yields and oil-driven inflation concerns are renewing pressure across risk assets.

How we got here

  1. Iran refused to soften its terms for reopening the Strait of Hormuz after Trump rejected its proposal. Bloomberg
  2. Bitcoin dropped as much as 2.3% to $82,568 before paring losses amid macroeconomic uncertainty. Bloomberg
  3. The 10-year Treasury yield rose over five basis points to 5.234% amid oil-price and inflation concerns. CNBC
  4. The BEA scheduled the release of GDP and Personal Income and Outlays reports for the morning. Gov
  5. The September Employment Situation report was scheduled for release at 8:30 a.m. ET. Gov
  6. The FOMC was set to begin its scheduled two-day meeting. Gov

What's likely next

  1. 30 a.m. ET: The BEA is scheduled to release GDP and Personal Income and Outlays data.
  2. 30 a.m. ET: The September Employment Situation report is scheduled for release.

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