Bitcoin slips below $85,000 as 5% Treasury yield returns to haunt risk assets - CryptoRank
Bitcoin slips below $85,000 as 5% Treasury yield returns to haunt risk assets - CryptoRank
Source: CryptoRank
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DW NOTE
The 5% Treasury yield isn't haunting risk assets — it's repricing them. The Fed hiked to 3.75%-4% last week after three years of pretending 2% inflation was transitory. Now the 10-year reflects what the Fed won't say: rates are staying higher because the deficit is $1.4 trillion and someone has to finance it. Bitcoin isn't responding to vibes about yields; it's responding to the fact that borrowing money suddenly costs something again.