Bitcoin survives a 5.2% Treasury shock as traders slash $1.7 billion in leverage
Summary
Bitcoin held in an $83,000–$85,000 range despite a sharp US Treasury selloff, with the 10-year yield reaching 5.22% and the 30-year touching a 22-year high. Higher risk-free returns raise Bitcoin’s opportunity cost and could pressure risk assets. Exchange data showed Bitcoin open interest fell 14.3% from Sept. 22 to Sept. 25, while spot price declined about 2.3%, indicating substantial deleveraging without a comparable price break. Analysts said low implied volatility and Bitcoin’s recent resilience contrast with rising yields. Upcoming US inflation and employment data may influence yields and test whether Bitcoin can maintain its range.
