A 5% Treasury yield sounds like a problem for Bitcoin, but history makes the picture a little more complicated. The 10-year yield reaching 5.12% puts BTC in a very different environment from the one we’ve become used to. When investors can get a relatively high yield from US government debt without taking crypto-level volatility, the opportunity cost of holding BTC naturally becomes harder to ignore. That may explain some of the pressure around $84K. But I don’t think higher yields automatically mean Bitcoin’s rally is over. We’ve seen BTC perform strongly even when Treasury yields were elevated. The bigger question is why yields are rising and whether that pressure continues. For me, $83K is an interesting level to watch. If BTC can hold it despite rising yields, that would show some resilience. If it breaks, $80K and $75K could become more relevant areas. Personally, I’m watching the relationship between yields and BTC more than either chart on its own. Higher yields can flush out leverage and speculative positioning — but that cleanup can also leave the market healthier once the pressure fades. So is 5% Treasury yield competition for Bitcoin? Absolutely. But whether it becomes a lasting headwind or simply another volatility phase is what I’m watching next.