Cryptocurrency prices retreated sharply on Tuesday, 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%.

The decline aligned with a risk-off sentiment that extended across other financial markets, particularly in equities. The Nasdaq 100 index dropped by more than 1% to $19,635, while the S&P 500 fell by 0.50%. These indices, heavily dominated by technology companies, tend to be more sensitive to risk sentiment.

Popular tech stocks were also affected. NVIDIA shares plunged by 5.4%, wiping out over $175 billion in market value. Tesla shares…