Bitcoin Slides Below $64K Amid Rising Bond Yields and Fed Rate Hike Odds

Bitcoin's price has dropped below $64,000 as rising US bond yields have increased the likelihood of a Federal Reserve rate hike. The sudden surge in bond yields has investors reevaluating their bets on the market.

The rise in bond yields is sending shockwaves through the cryptocurrency market, with Bitcoin being the most affected asset. The digital currency's price has been steadily increasing over the past year, but this latest development has put a dent in its momentum.

As US bond yields continue to climb, investors are becoming increasingly cautious about their investments. This is evident from the rising odds of a Federal Reserve rate hike, which could lead to higher borrowing costs and reduced demand for riskier assets like Bitcoin.