Dogecoin falls 7% as Bitcoin slides below $84,000 amid rising Treasury yields

Bitcoin fell more than 2% to around $83,900, while Dogecoin led a broad crypto sell‑off with a 7% decline. The move came as U.S. Treasury yields rose to their highest levels since 2007, putting pressure on non‑yielding and leveraged assets.

Market drivers

Three factors pushed yields higher:

• Brent crude rebounded, climbing over 4% to near $104 a barrel.
• A flash survey showed U.S. business output growing at its fastest pace in more than five years, with the composite index at 58.4.
• A $70 billion sale of five‑year Treasury notes attracted weak demand, clearing at 5.033%, the highest auction yield since 2006.

Impact on cryptocurrencies

Higher government‑bond yields raise the opportunity cost of holding assets that generate no yield, including Bitcoin. The steepest drop in Bitcoin occurred shortly after the business‑activity survey was released.

Other digital assets also fell:

• Zcash, XRP and Hyperliquid each lost between 5% and 6%.
• Ether, Solana and BNB slipped 2% to 3%.
• TRX remained flat.

Outlook

Bitcoin now sits below the $85,000 level that had attracted attention ahead of a roughly $14 billion options expiry on Deribit. Continued pressure from rising yields could keep the market in a corrective phase.