NewsMV
The 10-year Treasury yield climbing to 4.79% Tuesday, above its prior 52-week high of 4.75%, is doing more damage to crypto equities than to the coins themselves.
Circle Internet Group (NYSE:CRCL), Bitmine Immersion Technologies (NYSE:BMNR), and Coinbase Global (NASDAQ:COIN) each opened 3 to 4% lower, while Bitcoin ($BTC) and Ethereum ($ETH) are up 0.1% over the past 24 hours.
It marks the second consecutive session in which crypto equities have moved independently of the coins they typically track. The positioning gap CRCL fell to $91.80, down 4%, giving back part of Monday's 10% advance.
BMNR traded at $24.38, also off 4%, after a 6% session gain the prior day. COIN slid to $182.20, down 3%, unwinding a 5% Monday move.
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