US Treasury Yield Surge Sparks Bitcoin Volatility Amid Ondo Token Rally

The US Treasury yield has surged to its highest level in nearly two decades, causing volatility in Bitcoin's price. The 10-year yield rose by more than 4 basis points to 5.18%, while the 30-year yield climbed to 5.46%. This move higher in yields put pressure on non-yielding assets like Bitcoin, which briefly dipped below $83,000 before stabilizing around the mid-$84,000s.

Meanwhile, Ondo's token showed a clear bid, reclaiming the $0.50 level for the first time since December 2025. This move was largely driven by the launch of BlackRock-backed Ondo Intelligent Portfolios on both Ethereum and BNB Chain. The new offering supports non-US users and allows them to purchase tokenized shares in diversified portfolios.

The Treasury yield surge is also being fueled by a scheduled US Treasury buyback of up to $6 billion in bonds maturing in roughly 20 to 30 years. This move, however, has done little to ease conditions for risk markets, with yields continuing to push higher. The yen's weakness could further exacerbate this trend, as Japanese foreign exchange intervention often involves selling US securities to buy yen.