Bitcoin Falls Below $84K as 10-Year Treasury Yield Hits 19-Year High
Bitcoin price falls below $84,000 as Treasury yields and Fed bets rise See what higher rates, oil, and bond moves could mean for BTC next
Bitcoin slipped below $84,000 in Asian trading on Thursday, falling to about $83,200 as US Treasury yields climbed to their highest level since 2007. The move came alongside stronger US business data, higher oil prices, and a rise in expectations that the Federal Reserve could raise rates in October.
The US 10year Treasury yield ended Wednesday at 5.11% and briefly reached 5.13% intraday. Market analysts said higher yields can support the dollar and increase borrowing costs, which may add pressure to Bitcoin and other risk assets.
Traders are also watching the Treasury’s planned $6 billion bond buyback and the broader outlook for monetary policy. Despite the latest drop, Bitcoin has gained in September so far and has historically seen stronger performance in October, although past seasonal trends do not guarantee future results.