1338 GMT - The sharp rise in Treasury yields leaves bitcoin vulnerable as it limits the amount of liquidity available for risky assets, Zaye Capital Markets analyst Naeem Aslam says in a note. Given high long-end yields, bitcoin remains "highly exposed to every shift in the market's view of inflation, monetary policy and global risk appetite," he says. Bitcoin could fall further if the minutes of the Federal Reserve's September meeting at 1800 GMT signal the prospect of further near-term interest rate rises, lifting Treasury yields and the dollar. A more cautious message could improve liquidity expectations and help bitcoin retest recent highs, he says. Bitcoin falls 2.3% to $83,664 after reaching a one-week low of $83,454 earlier, according to LSEG.
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