Bitcoin price news: Stocks follow BTC lower as bond yields surge

Stock markets are beginning to follow Bitcoin's earlier price decline, which saw BTC drop to nearly $60,000 from $90,000 in the first five weeks of the year. This divergence from buoyant equity markets is ending as rising U.S. Treasury yields, driven by inflation fears and delayed Fed rate-cut expectations since the Iran war began, are pressuring stock valuations. The 10-year Treasury yield hit 4.41%, its highest since August 1, increasing borrowing costs across the economy and fostering risk aversion in equities. Analysts view Bitcoin's earlier drop as a leading indicator for traditional risk assets, with some noting striking similarities between stock index price patterns and BTC's pre-crash action. While Bitcoin has stabilized between $65,000 and $75,000, options markets show high fear regarding potential further slides.

(Source：CoinDesk)