Bitcoin Trades at $82,769 as 10-Year Treasury Yield Eases

Bitcoin (BTC) traded at $82,769 ahead of Monday’s U.S. stock market open as the 10-year Treasury yield retreated from a recent high and stock futures rose.

The 10-year yield stood at 5.08%, down from a recent peak of 5.3%. S&P 500 futures gained 0.47% after the index fell 1.09% Friday. Brent crude rose to $108 a barrel.

The yield decline comes after higher Treasury yields and rising equity prices narrowed stocks’ cushion over bonds. Bond yields also matter to companies financing artificial intelligence development: higher rates increase the cost of borrowing for that investment.

For hyperscalers, the weighted average cost of capital — the combined cost of debt and equity funding — has risen to 10% from 4% in 2023. That raises the return new hyperscaler investments need to earn to cover their financing costs. Monday’s lower Treasury yield does not change the reported cost-of-capital figure, but it puts borrowing costs back in focus as U.S. markets prepare to open.