Bitcoin Crumbles Under Pressure from Soaring Treasury Yields

U.S. Treasury yields have reached multi-decade highs, causing a significant drop in Bitcoin's value.

The spike in bond yields has put the 'digital gold' narrative of Bitcoin to the test, with some questioning whether it can withstand such market conditions.

If Bitcoin fails to hold its ground against rising interest rates, it may indicate that it is not a reliable hedge against traditional finance, but rather dependent on it.