Bitcoin Price Under Pressure as Yields Reach 2007 Levels
The US Treasury yield has reached its highest level since 2007, hitting 5.27% due to stronger oil prices and persistent inflation risks. Bitcoin (BTC) has struggled to extend its recent move above $86,000, currently trading near $84,000.
This combination of improving institutional demand and a difficult macro environment for risk assets has left BTC caught in the middle. Treasury yields above 5% create competition for speculative assets, making investors favor historically attractive returns from government debt over assets that generate no yield.
Bitcoin is already showing signs of this pressure, with several consecutive sessions of decline after failing to hold above $86,000. The immediate support area sits near $83,000.
The bullish side of the Bitcoin story remains present, however, as US spot Bitcoin ETFs attracted approximately $2.39 billion last week, recording inflows during every trading session.