Bitcoin Takes Hit from Rising US Treasury Yields

Bitcoin (BTCUSD) has been trading at $77371.25 as of September 10, marking a 1.18% drop compared to the previous day.

The decline in price is attributed to rising long-end U.S. Treasury yields and tightening macroeconomic conditions that have weighed on risk appetite.

U.S. 10-year Treasury yields surged above multi-month highs due to lingering inflation concerns, elevated sovereign debt supply, and increasing energy prices.

This upward re-rating of risk-free yields has increased the opportunity cost of holding non-yielding digital assets, leading to a decrease in institutional demand and prompting investors to scale back risk exposure across speculative asset classes.