Bitcoin Drops Below $80,000 as 10-Year Yields Rise
Bitcoin dropped below $80,000 at the Wall Street open, sliding about 3% after the U.S. 10‑year Treasury yield rose above 4.55%, prompting broad selling in risk assets.
Bitcoin fell below $80,000 at Friday’s Wall Street open, losing roughly 3% as the U.S. 10‑year Treasury yield climbed above 4.55%. Trading data showed the cryptocurrency approaching its lowest levels so far in May as investors reduced exposure to risk assets.
The rise in Treasury yields coincided with a pullback across markets. S&P 500 futures gave back earlier gains after reaching fresh highs earlier in the week. Traders linked the price moves to shifting expectations for interest rates and to higher borrowing costs for households and businesses.
On trading platforms, Bitcoin’s intraday losses intensified as the U.S. session began. Market participants noted that short-term technical support weakened and that lower local lows were possible, with some targets in the mid‑$70,000s if selling continued.
Market commentary pointed to the bond market as a driver of the selling. Analysts on social media flagged that the 10‑year yield had surpassed levels seen in April 2025, when policy tension coincided with market stress. The analysts also highlighted data showing a greater probability of future rate increases and fewer near‑term rate cuts.
The CME Group FedWatch Tool indicated a 25‑basis‑point increase as the most likely outcome by March 2027. Commentators noted that higher yields and tightened financial conditions could affect consumer borrowing costs. One analysis referenced near‑term data showing auto‑loan delinquency rates at multi‑decade highs and warned mortgage rates could rise above 7% if yields remain elevated.
Technical analysts described recent price action as rangebound. Short‑timeframe charts showed rejections at resistance and bounces from marked support, with traders watching for a clear breakout above resistance or a breakdown below support.
Bitcoin’s decline followed an unsuccessful attempt earlier in the week to climb past local highs near $82,000. Market structure now has participants monitoring whether recent horizontal support will hold or be retested. Economic data and central bank comments are expected to influence market direction in the coming sessions.
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