Bitcoin saw a 3% drop from record highs due to fears of less aggressive rate cuts in September and the US not buying bitcoin for its strategic reserve. Inflows from corporate treasuries and public companies have boosted the asset’s price by 25% year to date.

Ethereum prices also fell over 3% after reaching near-record levels. Companies are adding ether to their balance sheets to tap into the tech infrastructure for decentralized finance and digital assets. Both cryptocurrencies have seen increased interest from institutional investors and corporate treasuries.

Read more at Yahoo Finance: Bitcoin sinks following hotter-than-expected inflation print, Bessent comments on strategic reserve