Bitcoin Slumps to $83k Amid Soaring Yields and Iran Tensions

The Bitcoin price fell to $83,061.4 on Monday after surging Treasury yields and ongoing tensions between the US and Iran dampened appetite for risk-driven markets.

Government bond yields rose globally as investors bet on more interest rate hikes to combat rising inflation. The 10-year Treasury yield jumped past 5% to levels last seen in 2007, while Japanese yields blew past 30-year peaks.

The Federal Reserve and the Bank of Japan both hiked rates in September and signaled further moves due to concerns over sticky inflation. Higher interest rates make government debt appear safer and more attractive, limiting market liquidity and hurting speculative assets like Bitcoin.