Bitcoin slips below $84K as rising Treasury yields put pressure on crypto.
$BTC is trading around $83.3K after briefly pushing toward $87.3K, while $DOGE dropped roughly 8%. XRP, #ZEC and HYPE also saw heavier losses, with ETH, SOL and BNB down around 2-3%.
The move came as the U.S. 10-year Treasury yield jumped to 5.11%, alongside stronger U.S. business activity, a rebound in oil toward $104 and weak demand at the latest 5-year Treasury auction.
Higher yields can make non-yielding risk assets less attractive, while tighter financial conditions can add pressure to leveraged positions.
With roughly $14B in BTC options expiring Friday and BTC now below the $85K strike, volatility could remain elevated.
For me, $85K is the key level to watch. A clean reclaim with volume would strengthen the setup, while continued rejection could keep pressure on BTC and the broader market.
#BTC Price Analysis# #Altcoin Season#
#Macro Insights#
$BTC is trading around $83.3K after briefly pushing toward $87.3K, while $DOGE dropped roughly 8%. XRP, #ZEC and HYPE also saw heavier losses, with ETH, SOL and BNB down around 2-3%.
The move came as the U.S. 10-year Treasury yield jumped to 5.11%, alongside stronger U.S. business activity, a rebound in oil toward $104 and weak demand at the latest 5-year Treasury auction.
Higher yields can make non-yielding risk assets less attractive, while tighter financial conditions can add pressure to leveraged positions.
With roughly $14B in BTC options expiring Friday and BTC now below the $85K strike, volatility could remain elevated.
For me, $85K is the key level to watch. A clean reclaim with volume would strengthen the setup, while continued rejection could keep pressure on BTC and the broader market.
#BTC Price Analysis# #Altcoin Season#
#Macro Insights#
