The Zhitong Finance App learned that cryptocurrencies such as Bitcoin and Ethereum collectively declined on Thursday, cooling down the recent gains that have pushed Bitcoin to an eight-month high. After Bitcoin rose 9% in the past week, broke through $87,000 earlier this week, and hit an eight-month high, it began to bear the pressure of rising international oil prices and long-term US bond yields to strengthen at the same time as the US dollar, driven by rising international oil prices and continuing to hover above $100. The $100 oil price can be described as introducing global macroeconomic pressure into the crypto market.

The Zhitong Finance App learned that cryptocurrencies such as Bitcoin and Ethereum collectively declined on Thursday, cooling down the recent gains that have pushed Bitcoin to an eight-month high. After Bitcoin rose 9% in the past week, broke through $87,000 earlier this week, and hit an eight-month high, it began to bear the pressure of rising international oil prices and long-term US bond yields to strengthen at the same time as the US dollar, driven by rising international oil prices and continuing to hover above $100. The $100 oil price can be described as introducing global macroeconomic pressure into the crypto market.