Bitcoin drops under $83,000
Expectations of Rising Bond Yields and Their Impact on the Cryptocurrency Market Bitcoin experienced a decline close to $83,000 amid rising Treasury bond yields and geopolitical tensions between the United States and Iran. The 10-year Treasury yield exceeded 5%, a level not seen since 2007, as global central banks continued to adopt tight monetary policies to combat inflation. The market was negatively affected by reduced liquidity and increased costs due to the U.S.-Iran conflict, along with ongoing deadlock in peace negotiations. This has led to a decline in other cryptocurrencies as well, following two weeks of gains.
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