The price of Bitcoin has dropped to its lowest level in about two months, approaching the $90,000 mark during trading on Monday, amid a growing abandonment of high-risk assets following a sharp rise in U.S. bond yields.
According to data from CoinMarketCap, Bitcoin recorded a decrease of 3.13% over the past 24 hours, reaching $91,816 on Monday, after having sharply declined towards the $90,000 level.
This sharp decline in Bitcoin's price is attributed to investors moving away from higher-risk assets after stronger-than-expected U.S. jobs data was released last Friday, prompting traders to scale back their bets on the possibility of the Federal Reserve cutting interest rates in the near future. This has led to a widespread decline in the value of cryptocurrencies, with Bitcoin being the most affected.
