Bitcoin Price Crashes 14% to $65,000 as Dollar, Yields Weigh

Bitcoin price — Bitcoin‘s price fell roughly 14% over the past week, trading near $65,200 on Saturday after breaking below a key support level, as a stronger U.S. dollar and higher bond yields pressured the market.

The sell-off intensified over the weekend, pushing the price to around $65,000 and breaching Friday’s low of approximately $67,555. This marked bitcoin’s weakest level since mid-August. The decline followed a week where the U.S. dollar index held at a 19-month high and the 10-year Treasury yield climbed to a four-week peak of 5.17%.

Market sentiment was further dampened by outflows from spot bitcoin ETFs and a sell-off in technology stocks, triggered in part by the resignation of Nvidia’s CEO. Despite a brief rally following a slightly cooler-than-expected Producer Price Index report, the price quickly retreated. Bitcoin’s mining difficulty also saw a significant 9.13% drop overnight, offering some relief to miners.

With traders fully pricing in a Federal Reserve interest rate hike for December and thin weekend liquidity exacerbating moves, analysts are watching whether the slide below Friday’s low will hold. Attention now turns to Nvidia’s upcoming earnings report on Tuesday for further market direction.