Bitcoin Stabilizes Amid Rising US Treasury Yields
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Written by
Simonas Brazionis - Updated 2026-10-01 06:36:56
Bitcoin (BTC) experienced price volatility during US trading hours as US Treasury yields reached their highest levels in nearly two decades. After briefly dipping below $83,000, Bitcoin stabilized near $84,500.
Concurrently, Ondo Finance (ONDO) emerged as a leading performer among altcoins. Key developments included Bitcoin‘s brief decline below $83,000 before its recovery, coinciding with an increase in bond yields.
Treasury Yields Surge and Market Impact
The yield on the US 10-year Treasury note climbed to 5.18%, marking its highest point since July 2007, while the 30-year yield reached 5.46%. On Thursday, the US 10-year Treasury yield increased by over 4 basis points, reaching 5.18%, according to TradingView data.
This rise occurred on a day when the US Treasury planned to repurchase up to $6 billion in bonds maturing in 20 to 30 years, as part of an expanded program to enhance liquidity in long-dated debt markets. International bond markets also showed weakness, and the Japanese yen faced renewed pressure.
Mohamed A. El-Erian, president of Queen’s College Cambridge, indicated that the Japanese Yen's weakening to 159 per U.S. dollar holds significance beyond Japan. He noted that Japanese foreign exchange intervention typically involves selling US securities to acquire Yen, which could intensify yield pressures in an already sensitive Treasury market. Higher US Treasury yields generally make government bonds more appealing, potentially impacting non-yielding assets like Bitcoin. Despite this, Bitcoin has sustained its August rally, challenging previous bearish forecasts related to its traditional four-year cycle.
ONDO Token's Performance and New Offerings
The ONDO token, a tokenized real-world asset (RWA), was among the top gainers in the past 24 hours, reclaiming the $0.5 psychological level, as per CoinGecko data. This rally occurred despite the recent failure of the CLARITY Act to pass a procedural vote in the US Senate.
The token's surge coincided with the launch of BlackRock-backed Ondo Intelligent Portfolios. These new offerings allow non-US users to purchase tokenized shares in diversified portfolios, departing from the typical RWA focus on individual stocks and commodities. The tokens were deployed on Ethereum and BNB Chain, with settlement facilitated by CoW Protocol, as confirmed by CoW DAO.
The initial three tokens track BlackRock's model portfolio strategies for Ondo: BLKHIon (High Income), BLKDIGon (Diversified Growth), and BLKGRWon (High Growth). The ONDO token surpassed $0.50, a level not seen since December 2025, following the launch of BlackRock-backed Ondo Intelligent Portfolios on both the Ethereum and BNB Chain networks.
