Dogecoin drops 8%, Bitcoin below $84,000 as Treasury yields hit highest since 2007
- —Bitcoin near $83,900, down over 2% in 24 hours after peaking at $87,300
- —10-year Treasury yield rose to 5.11%, the highest since 2007
- —$70 billion five-year note auction cleared at 5.033%, the highest since 2006
- —DOGE fell 7% to just above 9 cents; ZEC, XRP and HYPE lost 5% to 6%
Why it matters: Rising Treasury yields raise the bar for holding non-yielding assets like bitcoin and make leveraged positions more expensive, pressuring the market.
Source: Cryptonews.net