Cryptocurrency prices retreated sharply today, erasing some of the gains made on Monday as concerns about the bond market intensified.

#Bitcoin $BTC dropped by 4%, reaching an intraday low of $97,700. Similarly, #Ethereum $ETH , #Ripple $XRP , and #Solana $SOL fell by over 5%.

It is believed that this price drop came after a sharp increase in the 10-year U.S. Treasury yield.