Bitcoin Pulls Back to $84,000 as U.S. Treasury Yield Hits Highest Since 2007

Bitcoin pulled back to $84,000 on Wednesday as a sharp rise in U.S. government bond yields weighed on the market, according to CoinDesk. The 10-year U.S. Treasury yield climbed 18 basis points during the session, reaching its highest level since 2007. The move in benchmark borrowing costs placed Bitcoin’s price action against a backdrop of significantly higher Treasury yields. CoinDesk’s live market coverage highlighted the simultaneous retreat in Bitcoin and surge in the 10-year yield. The report did not provide additional details on the cause of the yield increase or indicate how long either move might last. Bitcoin remains the primary asset affected in the supplied market update, with the $84,000 level serving as the key price reference.