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Bitcoin Barely Holds $26K as Interest Rate Surge Continues
Higher yields are taking a toll on traditional assets as well, with the Nasdaq sinking another 1% to its lowest level since early June.
Updated Sep 26, 2023, 5:00 p.m. Published Sep 26, 2023, 4:58 p.m.
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The price of bitcoin remained under pressure at $26,200 on Tuesday as the idea of higher rates for a longer period takes hold throughout financial markets. The broad CoinDesk Market Index (CMI) is down 0.6%, modestly underperforming the decline in bitcoin.
The U.S. 10-year Treasury yield moved up to 4.55%, matching its highest level in about 16 years. The yield on the 10-year note began September at just 4.18%.
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The sharp move higher in rates is having major effect on equity markets, with the Nasdaq lower by 1.1% on Tuesday and now at its weakest read in nearly four months. The S&P 500 is down similarly and also matching levels not seen since early June.
JPMorgan’s Jamie Dimon warns on rates
"I am not sure if the world is prepared for 7%," said the JPMorgan CEO earlier Tuesday. Dimon noted that the rise in the U.S. Federal Reserve’s benchmark fed funds rate from 0%-2% was not a big deal and that the rise from 2% to the current 5.25%-5.50% caught a few off guard. A rise to 7%, though, he cautioned, is something very few market participants are expecting.
"There will be stress in the system," he said, possibly sending the U.S. economy into recession.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Crypto ETFs with staking can supercharge returns but they may not be for everyone
From yield potential to custody risks, here’s how direct ETH and staking funds compare for different investor goals.
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- Investors can now choose between owning ether directly or buying shares in a staking ETF that earns rewards on their behalf.
- While staking ETFs offers yield, they come with risks and less control than holding ETH in an exchange or wallet.
- Grayscale’s Ethereum staking ETF recently paid $0.083178 per share, yielding $3.16 in rewards on a $1,000 investment.
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