Stocks start catching up with bitcoin’s earlier price crash to $60,000 as bond yields rise

Stocks look to be catching with BTC's earlier crash to nearly $60,000.

Make us preferred on Google

What to know:

• Nasdaq and S&P 500 futures hit September lows as rising Treasury yields
• Stocks look to be catching with BTC's earlier crash to nearly $60,000.

Bitcoin BTC$68,861.06 began the year on a painful note, even as equity markets remained buoyant. But stock traders’ luck is now running out, as rising bond yields pressure valuations.

Prices for bitcoin plunged to nearly $60,000 from around $90,000 in the first five weeks of the year, according to CoinDesk data. The decline marked a sharp decoupling from the S&P 500 and Nasdaq, which were trading at or near record highs at the time.

Analysts wondered how long the divergence would last — whether bitcoin would quickly bounce back or stocks would eventually catch up with the weakness in bitcoin.

The latter appears to be happening. Since the Iran war began on Feb. 28, fears over inflation and fading Fed rate-cut expectations have pushed U.S. Treasury yields sharply higher, putting pressure on equities.

The stock market’s weakness, appearing weeks after BTC’s decline, underscores the cryptocurrency’s role as a leading indicator for traditional risk assets. Traders in conventional markets often watch BTC to gauge overall risk sentiment, particularly on weekends or during days when traditional exchanges are closed.

Yields rise, stocks drop

The yield on the 10-year U.S. Treasury note rose to 4.41% soon before press time, the highest since Aug. 1. The benchmark borrowing cost has risen by 48 basis points since the onset of the Iran war. The U.S. two-year yield has jumped 57 basis points to 3.94%.

Treasury yields are considered the benchmark for risk-free interest rates and borrowing costs in the economy, such as corporate bonds, mortgages, student loans, etc., are priced relative to Treasuries. So, when yields rise, lenders typically increase rates on loans to maintain their spreads, which pushes borrowing costs higher for businesses and consumers. This leads to risk aversion in equities, which we are beginning to see now.

Futures tied to Wall Street's tech heavy index Nasdaq fell to 23,890 points early Monday, the lowest since Sept. 11. The S&P 500 e-mini futures fell to 6,505 points, also the lowest since September.

CoinDesk recently highlighted that the price patterns of major stock indices bear a striking resemblance to bitcoin's price action leading up to its crash. This similarity has raised concerns among analysts, suggesting that stocks could be at risk of further declines if the pattern continues to play out.

"Bitcoin has been at the top of the risk-assets iceberg, and its collapsing price could be early days of a broader drawdown -- particularly if surging commodity volatility trickles up to stocks," Bloomberg's Senior Commodity Strategist Mike McGlone said in a recent report.

Bitcoin steady

Having crashed early this year, BTC has held largely steady between $65,000 and $75,000 in recent weeks. As of writing, the cryptocurrency changed hands at $68,790.

Yet, pricing in options market shows peak fear, resulting in a record bias for put options, or derivative contracts offering protection from price slides in BTC.

More For You

XRP drops 3.7% as break below $1.40 signals renewed downside risk

Traders are watching the $1.38–$1.40 zone after repeated failures to reclaim resistance.

What to know:

• XRP has fallen below the key $1.40 support level and remains under pressure as sellers dominate and recovery attempts falter.
• The token is trading in a descending channel between roughly $1.38 and $1.42, with repeated failures to reclaim $1.40–$1.41 turning that zone into near-term resistance.
• Traders are watching whether the $1.38–$1.40 area can hold as support, as a decisive break lower could open the way toward the thinner $1.30–$1.32 support zone.

XRP drops 3.7% as break below $1.40 signals renewed downside risk

55 minutes ago

Bitcoin holds $68,300 as gold crashes for a ninth day and Asian stocks drop

1 hour ago

Sam Bankman-Fried’s parents tell CNN no customer money was lost. FTX creditors see it differently.

1 hour ago

South Korea crypto liquidity tumbles as stablecoin balances plunge 55% and stock buying rises

1 hour ago

If one trader can force the outcome of a prediction market, it shouldn’t be tradable

10 hours ago

The SEC explains how it's viewing a crypto security: State of Crypto

12 hours ago

Senators say they've reached compromise on yield to advance crypto market bill

Mar 20, 2026

Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8%

23 hours ago

Ethereum faces make-or-break moment in high-stakes balancing act as scaling, quantum and AI pressures mount

12 hours ago

Gold falters as macro pressures build, bitcoin holds liquidity trend

15 hours ago

The genius and the danger of STRC: How Strategy’s new funding model bends so it doesn't break

14 hours ago

Bitcoin options signal extreme fear as downside protection premium hits new all-time high, says VanEck

Mar 21, 2026

In this article

BTCBTC$68,888.47◢0.37%