Bitcoin Pulls Back Amid Bond Market Volatility Surge

Bitcoin's price recently pulled back to around $84,036 after failing to sustain advances above the $87,000 resistance zone. This move comes as bond market volatility surged 21% on Wednesday, causing a spike in U.S. Treasury yields.

The correlation between Bitcoin and U.S. 10-year yields is near zero, according to data from CoinDesk, which cited a 90-day correlation of −0.18 between the two assets' daily returns.

Lacie Zhang, research lead at Bitget Wallet, stated that 'Bitcoin's near-zero correlation with U.S. Treasury yields is a genuine portfolio advantage.'

The move above $84,650 could signal a resurgence of buying momentum, while losing the $83,000 support zone could increase selling pressure.