Bitcoin Faces Headwinds from Rising Treasury Yields

The recent surge in US Treasury yields has created a challenging environment for Bitcoin to break above $82,000. The 2-year yield has reached 4.09% and the 10-year yield has surpassed 4.5%, making low-risk government bonds more attractive and reducing appetite for volatile assets like Bitcoin.

Despite positive regulatory developments such as the progress of the Digital Asset Market Clarity Act, Bitcoin is struggling to close above its 200-day moving average, a key technical resistance. The bond market's influence on liquidity and risk appetite is currently overshadowing crypto-specific optimism, suggesting that Bitcoin may trade sideways until inflation and Federal Reserve policies become clearer.