Bitcoin Sees Brief Surge Above $84,000 as US Bond Yields Retreat from Highs

Bitcoin (BTC) traded above $84,000 on Thursday after US bond yields retreated from new multidecade highs. The 10-year yield dropped to 5.251% at the Wall Street open, down from its peak of 5.342%, a level last seen in April 2002.

Analyst Rekt Capital predicts that Bitcoin could experience a 'messy' retest of $82,500, which would be a key support level for the price.

The current market setup suggests that a successful retest of this level could set up the next trend continuation for Bitcoin.

Data from TradingView shows BTC/USD preserving a pattern of higher lows on hourly time frames, and the US 30-year yield also set new macro highs before dropping.