Bitcoin held near $84,000 on Thursday after briefly dipping below $83,000 as the US 10-year Treasury yield climbed to its highest level since 2007. Ondo Finance's ONDO token reclaimed the $0.50 level as BlackRock-backed Ondo Intelligent Portfolios launched on Ethereum and BNB Chain.
Bitcoin (BTC) swung through a volatile Thursday session as the 10-year US Treasury yield climbed to its highest level in nearly two decades. BTC briefly fell below $83,000 before stabilizing, then struggled to reclaim $84,500.
Yield climbs 70 basis points in a month to reach 5.18%
The US 10-year Treasury yield rose more than 4 basis points to 5.18% on Thursday, its highest level since July 2007. The 30-year yield hit 5.46%, reclaiming 2004 highs.
That climb came as the US Treasury was scheduled to buy back up to $6 billion in bonds maturing in roughly 20 to 30 years, part of an expanded program to improve liquidity in long-dated debt. International bond markets also weakened, and the Japanese yen came under renewed pressure. Mohamed A. El-Erian, president of Queen's College Cambridge, wrote on X that "The Japanese Yen has weakened back to 159 per U.S. dollar", approaching the established FX intervention zone.
Higher interest rates make government bonds more attractive and can weigh on non-yielding assets such as Bitcoin. Even so, BTC has extended its August rally, challenging bearish predictions tied to Bitcoin's traditional four-year cycle.
Ondo token reclaims $0.50 as BlackRock portfolios launch
The tokenized real-world assets token ONDO was among the top gainers over the past 24 hours and rose back to the $0.50 level, a level last traded in December 2025. That rally came despite the recent failure of the CLARITY Act to pass a procedural vote in the US Senate.
Gains followed the Thursday launch of BlackRock-backed Ondo Intelligent Portfolios on Ethereum and BNB Chain, with settlement handled through CoW Protocol, according to CoW DAO. The offering allows non-US users to buy tokenized shares in diversified portfolios, launching with three tokens tracking BlackRock-developed model strategies: BLKHIon (High Income), BLKDIGon (Diversified Growth) and BLKGRWon (High Growth).
Source: Cointelegraph.com News
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