Bitcoin drops below $83,000 as 10-year US Treasury yield hits 19-year high

Bitcoin fell below $83,000 on September 24, reaching a low of $82,874.93 on Binance, its lowest level since September 21. The decline follows a surge in the 10-year US Treasury yield to 5.11% on September 23, the highest since 2007, driven by strong US economic data that raised concerns over potential Federal Reserve interest rate hikes. Major altcoins saw steeper declines, with XRP and Dogecoin dropping over 7%. Market data indicates a reduction in leverage, with open interest on Binance BTC perpetual futures falling by 8.4% over 24 hours.