Crypto
Treasury Yields Send Bitcoin Plummeting Below $84K
Bitcoin plummeted below $84,000 as the 10-year U.S. Treasury yield hit a 19-year high, increasing pressure on risk assets and making it more expensive to hold speculative positions.
The surge in Treasury yields is causing investors to reassess their portfolios and may lead to a further decline in Bitcoin's price if momentum breaks.
Other cryptocurrencies, including XRP, are also feeling the squeeze with XRP testing key support levels after giving back some of its recent gains.
Despite these macro headwinds, crypto infrastructure and credit activity remain active, with TRON reaching $30 trillion in cumulative transaction volume and ReddotPay expanding its U.S. lending operations.