Crypto Markets Slide as US Treasury Yields Hit 24-Year Highs

Key Facts

1Bitcoin fell below $85,000 as soaring Treasury yields and a stronger dollar pressured the crypto market.

2The crypto market downturn led to the liquidation of 124,815 traders as major coins fell by up to 5%.

Bitcoin fell below the $85,000 level as soaring US Treasury yields and a stronger dollar pressured the digital asset market. Benzinga reported that the downturn led to the liquidation of 124,815 traders, with major cryptocurrencies recording declines of up to 5%.

The market slide impacted major tokens including Ethereum, XRP, and Dogecoin following a surge in US Treasury yields to 24-year highs on October 7, 2026. Investor appetite for riskier assets was reduced by these macro shifts and geopolitical risks, favoring the strengthening dollar and sovereign debt yields.