Bitcoin falls below $84K as 10-year Treasury yield hits 19-year high

Key pointsBitcoin fell below $84,000 as the US 10-year Treasury yield reached its highest level since 2007.An analyst put the odds of an October Fed hike above 70% as the Treasury prepared a bond buyback of up to $6 billion.Bitcoin has closed September higher for three straight years, while October has averaged a 19.92% gain, per CoinGlass data.Bitcoin fell below $84,000 during Asian trading hours on Thursday, slipping to $83,200 after the US 10-year Treasury yield climbed to its highest level since 2007.The 10-year yield closed Wednesday at 5.11%, up from 4.96% Tuesday, and reached 5.13% intraday. CME attributed the bond selloff partly to stronger US business data and rising oil prices.“BTC has held up well even with surging rates and a strong USD,” James Stanley, senior market analyst for global macro at FOREX.com wrote Wednesday. Stanley identified $82,833 as the next level to watch if the pullback deepens.The US 10-year Treasury yield climbed above 5.1%, reaching its highest level since 2007. Source: TradingViewRising Treasury yields offer investors higher returns on government debt and can raise borrowing costs, potentially weighing on Bitcoin and other risk assets.The US Trea...