Bitcoin steadies near $84,000 as US Treasury yields hit 2007 highs, ONDO rallies

Bitcoin (BTC) hovered around $84,500 on Thursday after briefly slipping below $83,000, while US Treasury yields surged to their highest levels since 2007.

US Treasury yields reach multi‑decade highs

The yield on the 10‑year US Treasury note rose to 5.18%, its highest since July 2007, and the 30‑year yield climbed to 5.46%, matching peaks from 2004. The increase came as the Treasury announced a buy‑back program for up to $6 billion of long‑dated bonds.

Impact on risk assets

Higher yields make government bonds more attractive, putting pressure on non‑yielding assets such as Bitcoin. Despite this, BTC maintained its August rally, staying above $84,000.

ONDO token rebounds

Ondo Finance’s token (ONDO) rose back to the $0.50 level, its highest since December 2025, becoming one of the top‑performing altcoins in the past 24 hours. The rally coincided with the launch of BlackRock‑backed Ondo Intelligent Portfolios on Ethereum and BNB Chain.

The new portfolios allow non‑US users to purchase tokenized shares in diversified strategies, with settlement handled through the CoW Protocol.

Broader market context

International bond markets weakened, and the Japanese yen faced renewed pressure, approaching a level that could trigger foreign‑exchange intervention, potentially adding further stress to Treasury yields.