Bitcoin price steadies, ONDO rallies as US Treasury yields hit 2007 highs

Bitcoin (BTC) had a volatile Thursday during US hours as the yield on the 10-year US Treasury note climbed to its highest level in nearly two decades. After briefly falling below $83,000, BTC struggled to reclaim $84,500. Ondo Finance (ONDO), meanwhile, was among the top-performing altcoins.

Key points: 

• Bitcoin briefly fell below $83,000 before stabilizing near $84,500 amid rising bond yields.
• Ondo’s token reclaims $0.50 for the first time since December 2025 as BlackRock-backed Ondo Intelligent Portfolios launch on Ethereum and BNB Chain.
• The US 10-year Treasury yield climbs to 5.18%, its highest since July 2007, while the 30-year yield reaches 5.46%.

US 10-year Treasury gains 70 basis points this month, hits 5.18%

The US 10-year Treasury yield rose more than 4 basis points to 5.18% on Thursday, its highest level since July 2007, according to TradingView data. The 30-year yield hit 5.46%, reclaiming 2004 highs.

The climb came on the day the US Treasury was scheduled to buy back up to $6 billion in bonds maturing in roughly 20 to 30 years, part of an expanded program aimed at improving liquidity in long-dated debt markets.

International bond markets also weakened, while the Japanese yen (JPY) came under renewed pressure. Mohamed A. El-Erian, president of Queen’s College Cambridge, wrote on X: “Flying under many radars for now, but probably not for long: The Japanese Yen has weakened back to 159 per U.S. dollar (CNBC chart), approaching the established FX intervention zone.”