Bitcoin Slumps as Bond Yields Soar and Rate Hikes Loom

The BTC/USD pair has lost momentum in recent days, sliding from last month's high of $81,365 to its current price of $77,320.

This decline comes as the bond market crisis intensifies, with yields soaring to multi-decade highs in Japan and other countries.

The ongoing sell-off in bonds has pushed crude oil prices up, with Brent reaching $95 and West Texas Intermediate (WTI) hitting $90.6.

As a result, there's growing speculation that the Federal Reserve may raise interest rates as soon as this month, which would likely lead to Bitcoin underperforming the market.