Market check: Dow plunges 500+ points, 10-year yield climbs, crypto stocks sell off

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Bitcoin Falls Below $40,000 as Bond Yields Keep Rising

briefly broke through a support level of $40,000 early Monday amid a selloff in cryptocurrencies and tech stocks as bond yields continued to rise. Bitcoin, the largest crypto by market value, traded down to $39,558, according to FactSet, before rallying back to around $40,800. While Bitcoin and Ether were both down around 2% in trading Monday, other cryptos were facing worse: was down 4.8%, Binance Coin, off 2.8%, and down 3.6%.