Bitcoin falls below $84K as 10-year Treasury yield hits 19-year high
Bitcoin slipped below $84,000 in Asian trading, touching about $83,200 as the US 10-year Treasury yield rose above 5.1% to its highest level since 2007. The bond selloff was linked to stronger US business data and higher oil prices, which boosted expectations for further Federal Reserve tightening. Markets have increased odds of an October rate hike, and a higher-rate backdrop could raise borrowing costs and pressure Bitcoin and other risk assets. Analysts said BTC has held up relatively well so far, with about $82,833 seen as a key support level if weakness deepens. The move also comes as seasonal Bitcoin narratives persist: September has historically been weak, while October has often been strong, though last year’s “Uptober” did not deliver.
