Dogecoin down 8%, bitcoin under $84,000 as Treasury yields hit highest level since 2007
Why now
Thesis: Higher yields drain liquidity from speculative crypto assets
Catalyst to watch: Next Treasury auction demand and yield direction
Main risk: Yields could reverse, snapping crypto back higher
Why it matters
Rising Treasury yields lift the risk-free rate, pulling capital out of speculative crypto and pressuring high-beta tokens hardest.
Details
A rebound in oil, the strongest U.S. business survey in five years and a poorly received five-year note sale pushed borrowing costs higher, with DOGE leading token losses.
Sources
- coindesk · 2026-09-24 04:13 UTC