Bitcoin Falls Below $83,000 as 10-Year Treasury Yield Hits 5.11%
Bitcoin reached $82,874.93 on Binance, while XRP and Dogecoin fell more than 7% over 24 hours.
Bitcoin (BTC) fell below $83,000 on Sept. 24 as the 10-year U.S. Treasury yield reached its highest level since 2007, adding pressure across crypto markets.
Bitcoin dropped below the mark at 5:34 a.m. ET (09:34 UTC), with the Binance BTC/USDT market reaching a low of $82,874.93 one minute later. It was the first time BTC had traded below $83,000 since Sept. 21.
At 5:38 a.m. ET (09:38 UTC), Bitcoin traded at $83,256, down 2.89% over 24 hours. The asset had reached $87,278 on Sept. 23 before reversing lower.
Ether (ETH) traded at $2,644, down 3.39%. XRP fell 8.58%, while Dogecoin dropped 7.79%, more than twice Bitcoin’s percentage decline.
The 10-year Treasury yield closed at 5.11% on Sept. 23, up 0.15 percentage point from the previous day and its highest level since July 2007. The U.S. September composite purchasing managers’ index also rose to 58.4 from 56.0 in August, marking its fastest expansion since July 2021.
