Bitcoin stabilizes amid Treasury yields near 2007 highs, Ondo Finance surges on BlackRock launch

Bitcoin (BTC) experienced volatility on Thursday, briefly falling below $83,000 before stabilizing around $84,500 as the yield on the 10-year US Treasury note reached its highest level in nearly two decades, at 5.18%. The 30-year yield also hit 5.46%, reclaiming levels last seen in 2004. This rise followed a Treasury auction to buy back up to $6 billion in long-dated bonds, part of efforts to bolster liquidity in the market. Higher yields typically make government debt more attractive, potentially pressuring assets without yield, including Bitcoin, despite BTC extending its August rally and challenging bearish predictions tied to its traditional four-year cycle.