Bitcoin Drops Below $79,000 Amid Surge in U.S. Treasury Yields

Huo Xing Finance reports that after the U.S. stock market opened, Bitcoin rapidly declined, briefly falling below the $79,000 level, posting a daily loss of approximately 3% and reaching its lowest level since May. The market generally attributes this pullback to a sell-off in risk assets triggered by a sharp rise in U.S. Treasury yields. Data shows that the yield on the 10-year U.S. Treasury note has risen above 4.55%, its highest level in nearly a year, fueling concerns over tightening liquidity and the repricing of risk assets. Analysts note that this level previously triggered sell-offs in U.S. equities and policy expectations last year and is now re-emerging as a key pressure signal. Trading firm The Kobeissi Letter stated that the “crisis-driven rally” in the U.S. Treasury market is intensifying, with growing expectations of prolonged high interest rates; markets have begun pricing in the possibility of further rate hikes, causing the previous “speculative fervor” around risk assets to rapidly cool. On the technical side, analysts suggest that after multiple failed attempts to break above the $82,000 resistance level, Bitcoin’s support structure is weakening, and it may retest the $75,000–$77,000 range in the short term, as the market enters a phase of range-bound trading and directional selection.