Bitcoin Drops Under $84,000 as Treasury Yields Surge Trigger Liquidations
CIE News ·
What Happened
Bitcoin fell around 2.6% to 2.9% intraday to trade near $83,300–$83,500, breaking below $84,000 as the U.S. 10-year Treasury yield surged. The downturn resulted in over $237 million in Bitcoin long positions being liquidated on centralized derivative exchanges.
Why It Matters
The drop breached the $84,000 support level and wiped out over $237 million in leveraged long positions across centralized derivative exchanges.