Bitcoin Slides to $83,300 as Bond Yields Reach Highest Level Since 2007

Bitcoin's price has fallen to $83,300 as bond yields reach their highest level since 2007. The selloff in bonds is weighing on cryptocurrencies, with Bitcoin down 1.23% and ether down 1.55%. Other major tokens are also falling, including XRP, which lost 2.87%, and solana, which dropped 1.61%. Smaller tokens like NEAR and HYPE have fallen even further, by 3.32% and 3.94% respectively.

The bond selloff has pushed the U.S. 10-year Treasury yield to its highest level since 2007, leading to a broad sell-off in financial markets. The dollar index has risen to its highest level since July, while gold is down by 0.71%. U.S. equity futures are also trending lower.

Derivatives positioning data shows that taker flow remains bearish, with shorts making up over 52% of the 24-hour taker volume. However, Binance whales are not buying into the bearish story, with their long/short account ratio sitting above 1.