Live updates: Bitcoin continues lower as bond yields take center stage

Bitcoin (BTC) is trading at $83,500 two hours prior to the U.S. market open, down 2.55% over the past 24 hours. Ether (ETH) and solana (SOL) are down closer to 3%, and XRP (XRP) is lower by 7.5%.

U.S. stock index futures are pointing to a second day of declines, the Nasdaq down 0.9% and the S&P 500 off 0.5%.

The bond market is steady early Thursday following yesterday’s plunge that saw the U.S. 10-year Treasury yield surge nearly 20 basis points to its highest level in more than 19 years.

Thursday will bring Initial Jobless Claims, which are expected to continue showing extreme strength in the U.S. employment market. There will also be New Home Sales for August as well as a couple of Fed speakers.