Bitcoin Stabilizes as ONDO Token Surges Amid Rising Treasury Yields
- Bitcoin (BTC) briefly fell below $83,000 before stabilizing around $84,500.
- The US 10-year Treasury yield reached a high of 5.18%, the highest since July 2007.
- Ondo Finance’s token (ONDO) reclaimed the $0.50 level for the first time since December.
- The US Treasury is buying back up to $6 billion in bonds as part of liquidity measures.
- The Japanese yen weakened to approximately ¥159 per US dollar, raising concerns about FX intervention.
The rise in Treasury yields can make government bonds more attractive, potentially impacting non-yielding assets like Bitcoin negatively. Despite this, Bitcoin has continued its rally from August, countering bearish predictions related to its four-year cycle.
As Bitcoin stabilizes near $84,500 amidst these market shifts, ONDO’s recent surge back to $0.50 highlights investor interest in new financial products linked to real-world assets.(Source)
