Today the cryptocurrency market overall saw a pullback. After Bitcoin briefly broke above $87,000, it fell back to around $84,000, down about 2.7% over 24 hours. Ethereum also lagged and slid to around $2,700.
The immediate driver of this pullback is the U.S. Treasury market: the yield on the U.S. 10-year note rose above 5%, September’s PMI recorded the fastest expansion since 2021, market expectations for an October rate hike heated up, and risk assets were broadly under pressure—leading the Nasdaq to weaken as well.
However, demand doesn’t seem to be cold: tracking data shows that on September 23, the Bitcoin ETF still recorded a net inflow of roughly 8,250 BTC, indicating institutional buying is still ongoing.
Data as of: 2026-09-24 18:26 (UTC+8)
For learning records only and does not constitute investment advice.
The immediate driver of this pullback is the U.S. Treasury market: the yield on the U.S. 10-year note rose above 5%, September’s PMI recorded the fastest expansion since 2021, market expectations for an October rate hike heated up, and risk assets were broadly under pressure—leading the Nasdaq to weaken as well.
However, demand doesn’t seem to be cold: tracking data shows that on September 23, the Bitcoin ETF still recorded a net inflow of roughly 8,250 BTC, indicating institutional buying is still ongoing.
Data as of: 2026-09-24 18:26 (UTC+8)
For learning records only and does not constitute investment advice.
