Bitcoin Slips Below $85,000 as Treasury Yields Top 5%

Bitcoin fell below $85,000 as rising U.S. Treasury yields, with the 10-year yield exceeding 5%, dampened investor sentiment. The decline followed strong U.S. business data, as the S&P Global flash U.S. Composite PMI reached 58.4 in September, its highest level since July 2021. The data fueled concerns that the Federal Reserve may maintain restrictive monetary policy, increasing the appeal of conventional dollar assets over speculative ones.