Bitcoin Slumps Below $84K as Treasury Yields Surge

Bitcoin's two-week winning streak came to an end as it fell 1.7% to $83,061 on Monday.

The drop was attributed to a surge in Treasury yields and ongoing tensions between the U.S. and Iran.

The 10-year U.S. Treasury yield rose past 5%, its highest level since 2007, while Japan's 10-year yield hit 3.08% and reached a multi-year high.

President Trump did not rule out further military action against Iran before the November midterm elections, despite the country proposing a seven-day pause in fighting and a reopening of the Strait of Hormuz.