Bitcoin drops to $75.6K as global bond yields hit multidecade highs

Bitcoin (BTC) fell to $75,560 on Tuesday, marking the lowest price level recorded in September. The decline came as global bond yields surged to levels not seen in over a decade, adding pressure to risk assets.

Senate CLARITY Act vote fuels market anxiety

Traders remained cautious ahead of a procedural vote on the U.S. Senate’s CLARITY Act, scheduled for 2:15 p.m. Eastern time. The bill must secure 60 votes to advance to a floor debate. Market consensus views the likelihood of passage as low, with Polymarket users assigning a 14 % probability to the act becoming law in 2026.

QCP Capital noted that even if the procedural vote succeeds, the impact would be limited, as the legislation would only clarify regulatory roles between the SEC and CFTC without guaranteeing final approval.

Bond yields reach multidecade peaks

U.S. 10‑year Treasury yields broke the 5 % barrier, climbing to 5.041 %, a level not observed since June 2007. Across the seven largest economies, average 10‑year yields rose to 4.285 %, the highest since mid‑2008.

In the United Kingdom, the 30‑year bond yield reached 5.95 %, its highest since March 1998. Japan’s 10‑year yield hit 3.04 %, the highest in 30 years.

Inflation concerns and oil prices

Rising oil prices, with WTI crude near $105 per barrel, heightened inflation risk and contributed to the bond market rally. Analysts expect central banks to tighten monetary policy, with the U.S. Federal Reserve and Bank of Japan each projected to raise rates by 0.25 %.

The combination of higher bond yields, elevated oil prices, and legislative uncertainty created a challenging environment for Bitcoin and other risk assets.