Bitcoin Slips Below $84K as US Treasury Yields Reach 19-Year High

Bitcoin's price dipped below $84,000 on Thursday, falling to around $83,200 during Asian trading hours.

The decline coincided with the US 10-year Treasury yield reaching its highest level since 2007 at 5.13% intraday.

Rising Treasury yields can lure investors away from riskier assets like Bitcoin and towards government debt, which offers better returns.

Bas Kooijman, CEO of DHF Capital, noted that stronger US business activity and higher energy prices have raised expectations for further Federal Reserve tightening.