Crypto
Bitcoin Slips Below $84K as Treasury Yields Reach 19-Year High
Bitcoin's price dipped below $84,000 during Asian trading hours on Thursday, following the US 10-year Treasury yield reaching its highest level since 2007. The yield closed at 5.11%, up from 4.96% the previous day.
According to James Stanley, senior market analyst for global macro at FOREX.com, 'BTC has held up well even with surging rates and a strong USD.' He identified $82,833 as the next level to watch if the pullback deepens.
The US Treasury announced a $6 billion ceiling for its Thursday buyback of bonds with roughly 20 to 30 years remaining. This move is part of an expanded program intended to improve liquidity in long-dated debt.