business π Crypto dips hard as yields climb high
Dogecoin dropped by 8% while Bitcoin fell below $84,000 amid a broader crypto sell-off. This downturn was driven by rising Treasury yields hitting levels unseen since 2007. Bitcoin traded near $83,900 on Thursday Asian morning hours after previously reaching almost $87,300. Strong US business activity and high oil prices contributed to the yield increases before Friday's $14 billion options expiration. Investors are now facing higher borrowing costs for nonyielding assets like Bitcoin. π