Crypto
Bitcoin Tumbles Below $84K Amid Rising Treasury Yields and Hawkish Fed Expectations
Bitcoin (BTC) dropped below $84,000 in Asian trading hours on Thursday, reaching as low as $83,200. The decline was tied to a rise in US Treasury yields, which climbed to their highest level since 2007.
The 10-year Treasury yield closed at 5.11%, up from 4.96% the previous day and 5.13% intraday. CME attributed the bond selloff partly to stronger US business data and rising oil prices.
An analyst noted that Bitcoin has held up well despite surging rates and a strong USD, with $82,833 identified as the next level to watch if the pullback deepens.