Bitcoin drops to $83,300 as 10-year Treasury yields reach 17-year high

Bitcoin fell to $83,300 as rising U.S. bond yields weighed on risk assets across markets. The 10-year Treasury yield climbed to its highest level since 2007, a threshold not seen in roughly 17 years. The surge in yields dragged down both U.S. stocks and cryptocurrencies in tandem. However, buyers from Asian and European markets subsequently stepped in to purchase the dip, providing some relief to battered assets.