Treasury Yields Reach 15-Year High, Bitcoin Suffers

The U.S. Treasury yield has reached its highest level since July 2007, hitting 5.234% on July 30th and easing to 5.185% on July 31st.

This increase in bond yields makes government debt more attractive relative to risk assets, which could hurt crypto markets already struggling with thin liquidity.

Bitcoin's market value has shed over $675 billion since its January high, and rising bond yields may further squeeze capital out of the space.

The Federal Reserve's decision to hold interest rates between 3.5% and 3.75% has also contributed to the rise in Treasury yields, with inflation remaining above the 2% target due to energy-driven price increases.