Bond Market Triggers Real-Yield Shock, BTC Faces 30% Price Drop

BTC dipped to $83,942.62 on Thursday, down from Wednesday's open at $84,370.41, as the bond market triggered a real-yield shock.

The 10-year Treasury yield pushed to 5.15%, its highest since July 2007, and the nominal 10-year touched 5.446%, a level last seen in June 2004.

This shift has made it difficult for Bitcoin, an asset with no coupon, to compete against government bonds paying more than 5% with zero credit risk.

The weekly picture still looks strong for BTC, up 9.52% over seven days and 39.09% over 90 days, but the cost of holding it has increased.