Bitcoin falls below $84K as 10-year Treasury yield hits 19-year high
Bitcoin traded near $83,200 as Fed hike odds reached about 75% and Treasury prepared a $6 billion buyback of long-dated bonds.
Bitcoin traded near $83,200 as Fed hike odds reached about 75% and Treasury prepared a $6 billion buyback of long-dated bonds.
Bitcoin fell below $84,000 during Asian trading hours on Thursday, slipping to $83,200 after the US 10-year Treasury yield climbed to its highest level since 2007.
The 10-year yield closed Wednesday at 5.11%, up from 4.96% Tuesday, and reached 5.13% intraday. CME attributed the bond selloff partly to stronger US business data and rising oil prices.
Bas Kooijman, CEO and asset manager at DHF Capital, said stronger US business activity and elevated energy prices had increased expectations of further Federal Reserve tightening.