Bitcoin rises above $19.5K, and other cryptos climb, as 10-year Treasury yields and factory activity tick downward; Binance's 'planned burn' of Luna Classic tokens has failed to boost the price. JPRubin23 and sndr_krisztian report
Ten-year Treasury yield daily close: 3.65%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atCrypto investors who have appreciated bad, economic news more than good in recent months were feeling chipper on Monday as the latest manufacturing indicators arrived cooler than expected.
Ether was recently changing hands at just above $1,300, up roughly 3% from a day earlier, same time. Most other major altcoins in market value were trading higher with ATOM and MATIC both rising more than 5%. The, a broad-based market index that measures performance across a basket of cryptocurrencies, increased by over 2.5%.
Meanwhile, yields on 10-year U.S. Treasurys declined, continuing their path of the past few days after rising to 15-year highs late last months. Yields and asset prices usually travel in opposite directions. The fall-off may also reflect a surge in investor confidence that Fed policies are working. In an email to CoinDesk, Jon Campagna, partner and head of trading and capital markets at crypto investment firm CoinFund, noted optimistically that bitcoin and cryptos in general have struggled in September but had their best performance in the last quarter of the year with an average quarterly return of more than 100%."It remains to be seen if history can repeat itself for Q4 the way it did for the month of September," he wrote.
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