US bond yields hit 24-year high, pressuring Bitcoin
- —BTC trades at $85,233, down 1.48% over 24 hours
- —20-year US Treasury yield at 5.747%, 30-year at 5.703%
- —Yields are at their highest levels since 2002
- —Rising costs in ISM services data accelerated the yield move
Why it matters: Elevated Treasury yields pull capital away from risk assets and cap Bitcoin's upside in the near term.
Source: Crypto Insiders