Bitcoin Holds Steady Near $84,000 Despite Treasury Yield Surge

Bitcoin is maintaining a price range between $83,000 and $85,000 despite a significant selloff in US bonds that pushed the 10-year Treasury yield to 5.22% and the 30-year yield to a 22-year high of 5.5185%. While rising yields increase the opportunity cost for risk assets, Bitcoin has shown resilience, having gained approximately 22% since August 19. Analysts note that the 10-year yield is on track for its longest monthly winning streak since 1970, and recent Treasury auctions have faced weakening demand, with a $44 billion seven-year note sale clearing at its highest yield since 1993.