✅The cryptocurrency market is currently worth $1.08 trillion. However, it experienced a 0.90% loss within the last 24 hours. Bitcoin recently faced rejection at $28,600 and has been under pressure.

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The current bearish trend can be attributed to two key factors: the increasing US bond yields and overbought signals.

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On October 3, the yield of the US. 10-year Treasury note surged to 4.75%, marking a sixteen-year high. This resulted from statements from Federal Reserve officials, indicating that interest rates would not be reduce in 2023 and 2024.

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