Bitcoin Plummets Below $84,000 Amid Rising Treasury Yields

Bitcoin has pulled back to around $84,036 after failing to hold gains above the $87,000 resistance area. The decline comes as stronger-than-expected US PMI data lifted Treasury yields, reducing demand for non-yielding assets such as Bitcoin.

The US 10-year Treasury yield moved higher as markets reassessed inflation and interest-rate expectations. This increase in yields has pushed investors to reevaluate their exposure to riskier assets, contributing to the decline in Bitcoin's price.

Traders are closely monitoring the $83,000 support zone, which is currently a key level for Bitcoin. A move above $84,650 could signal renewed buying momentum and potentially lead to another push towards the previous resistance level at $87,000.