Live updates: Bitcoin slips back to $83,000 as bond yields surge to new cycle highs
The U.S. 10-year Treasury yield is sharply higher again, rising above 5.25% as oil jumps 3%
Source: CoinDesk
―
DW NOTE
The Fed hiked rates to fight inflation created by choking off Gulf oil supply. Now bond yields are punishing both the government that caused the disruption and the bitcoin held as insurance against it. Bitcoin at $83,000 is down 17% from its June high while the 10-year yield has climbed to 5.18%. When the cost of sovereign dysfunction rises, risk assets get sold to meet the margin call.