Bitcoin declines 10% to $76,000–$77,000 amid rising US Treasury yields (4.814%) and fiscal deficit concerns, signaling macro liquidity pressure rather than crypto-specific weakness.
Macro & Markets ·
Bitcoin has declined approximately 10% from its August peak above $81,000, trading near $76,000–$77,000 as US Treasury yields have risen sharply. The 10-year yield reached 4.814%, marking its highest level since November 2023, according to reporting on market conditions. The move reflects mounting concerns around fiscal deficits and potential intervention from Treasury Secretary Bessent in bond markets.
The selling pressure appears rooted in broader macroeconomic dynamics rather than sentiment specific to digital assets. When government bond yields climb, investors typically shift away from riskier positions, including cryptocurrencies, in favor of safer fixed-income returns. This dynamic can suppress bitcoin's valuation if yield pressures persist.
What remains unclear is whether Bessent will attempt further stabilization of the bond market and, if so, how such action might affect both Treasury yields and risk appetite across assets. The trajectory of yields in coming weeks will be critical to whether bitcoin stabilizes or faces additional headwinds from macro liquidity conditions.