Top Cryptocurrencies Retreat; Bitcoin Drops Below $97,000 Level

Major digital assets were mostly weaker late afternoon Thursday with Bitcoin (BTC/USD) falling below the $97,000 level. The CoinDesk Market Index, which tracks 124 digital assets, shed 1% in the past 24 hours. The Nasdaq 100 rose 1.4% in late trading, the S&P 500 climbed 1%, and the Dow Jones Industrial Average advanced 0.8%. Bitcoin fell 0.8% to $96,199, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume decreased 18% to $38.87 billion. Ethereum (ETH/USD), the second-largest digital asset by market value, eased 1% to $2,650. XRP (XRP/USD) added 1%, while BNB (BNB/USD) slumped 4.8%. Solana (SOL/USD) was less than 0.1% lower. Dogecoin (DOGE/USD) lost 1.8%, while Cardano (ADA/USD) rose 2.5%. The US 10-year Treasury yield stood at 4.523% at 3 p.m. ET Thursday, down from 4.635% Wednesday, while the five-year yield eased to 4.384% from 4.48%. The total market value of the cryptocurrency industry dipped 0.7% in the past 24 hours to $3.18 trillion, with the overall trading volume down 10.9% at $111.03 billion.