Why surging US real yields are quietly forcing Bitcoin under $84,000
Bitcoin registered an intraday low at $83,500 on Sept. 23, the same day the US 10-year Treasury yield closed at 5.11%, up 15 basis points in a single session, as a hotter-than-expected business activity survey pushed investors to reprice interest rates. Related Asset Bitcoin #1 BTC · $83,355.55 24-hour change: down 3.05% Loading price history… 24H Down 3.05% 7D Up 8.77% 30D Up 4.34% Bitcoin now sits inside the $84,000 to $85,000 zone Glassnode identifies as its nearest on-chain support. Real yields carried most of the move The 10-year real yield, which strips out expected inflation, climbed from 2.63% to 2.76% on Treasurys curve, accounting for 13 of the 15 basis points added to the nominal yield. Implied 10-year inflation compensation, the gap between the two, edged from about 2.33% to 2.35%. Related Company Glassnode On-chain analytics platformMetricSept. 22Sept. 23One-day moveWhy it matters for Bitcoin10-year Treasury yield4.96%5.11%+15 bpsRaises the benchmark return available in government debt10-year real yield2.63%2.76%+13 bpsIncreases the inflation-adjusted opportunity cost of holding BTCImplied inflation compensation2.33%2.35%+2 bpsShows the move was mostly real-rate drivenSs September Purchasing Managers Index. The composite reading jumped to 58.4 from 56.0, with services at 58.7 and manufacturing at 57.0, the strongest expansion in the survey since July 2021. An economy running









