Bitcoin Price Dips Below $84K Amid US Treasury Yield Spike

Bitcoin's price has dipped below $84,000 for the first time in recent trading sessions, hovering around $83,200 as Asian markets opened on Thursday. This downturn coincided with US Treasury yields reaching their highest level since 2007 at 5.13%.

The upward movement in Treasury yields was driven by robust American business indicators and climbing crude oil valuations. Market participants expect a rate increase from the Federal Reserve, with CME's FedWatch tool indicating a 75.3% probability of an October hike.

Despite this decline, Bitcoin has maintained a 7.35% gain for September. Technical analysis suggests that $81K-$82K represents the next critical support level following resistance at $87K.