ONDO leads altcoin surge as Bitcoin holds near $84,000

While surging Treasury yields rattled traditional risk assets, Bitcoin held its ground near $84,000 and select altcoins pushed higher, with ONDO emerging as the session’s standout performer. What the PMI data actually did S&P Global’s September flash composite PMI came in at 58.4, the strongest reading since July 2021. A number above 50 signals expansion; a number this far above 50 signals the kind of economic momentum that makes central bankers reach for the hawkish playbook. Bond markets responded exactly as you’d expect. The 10-year U.S. Treasury yield climbed to approximately 5.11%, a level not seen since 2007. Bitcoin traded in a range between roughly $83,200 and $87,000 during the session, absorbing the macro turbulence without breaking down through what the market had established as a key support zone. The broader crypto market cap did see 2-3% fluctuations. Why ONDO specifically had a good day Among altcoins, ONDO was the name that kept appearing in the session recap. The token traded between $0.42 and $0.50, posting gains while much of the altcoin market delivered mixed or flat results. ONDO is the governance token of Ondo Finance, a protocol that has staked its identi...