Bitcoin Retreats as Bond Yields Surge

Bitcoin's slide below $80,000 underscores the bond market's renewed dominance over crypto trading, even as lawmakers advance key regulatory bills. The top cryptocurrency fell over 3% to $79,083 after failing to hold above $82,000 resistance. The move was driven by a surge in US Treasury yields to new highs, reflecting tightening liquidity conditions that are draining risk appetite from digital assets. The yield on the 10-year Treasury note climbed to its highest level in months, drawing capital away from speculative markets. While regulatory progress offers long-term support, immediate price action remains tethered to macroeconomic forces. Bitcoin's inability to reclaim the $82,000 level signals near-term bearish pressure, with further downside possible if yields continue to rise. However, the passage of crypto-friendly legislation could provide a floor for prices once liquidity conditions stabilize.

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