Bitcoin slides to $83,300 as bond yields hit highest level since 2007 — SkimNews
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- Bitcoin fell to $83,344, down 1.23% since midnight UTC, giving back an early recovery as the selloff extended into a second day.
- The U.S. 10-year Treasury yield reached its highest level since 2007, driving equities and crypto lower together; the dollar index climbed 0.13% to 101.24 (its highest since July), gold dropped 0.71% to $4,257, S&P 500 futures lost 0.61%, and Nasdaq 100 futures fell more than 1%.
- Derivatives positioning turned bearish: shorts made up over 52% of 24-hour taker volume (which rose 10% to $250 billion), while Bitcoin futures open interest dropped 6% against a 3% price decline — a combination the source flags as genuine long unwinding rather than fresh short conviction building.
- Litecoin bucked the trend, rising nearly 8% in 24 hours with futures open interest (measured directly in tokens) climbing to 8.96 million — the highest since January 18 — as traders positioned for next July's block reward halving.
- Options markets turned defensive: BTC's one-week skew flipped positive showing renewed demand for downside protection, while over $17 billion in BTC and ETH options expire on Deribit Friday with most positions currently in the money.
- Binance whales appear to be sitting out or leaning against the broader selling: the whale long/short account ratio sits at 1.30 and the whale position ratio has held under 2 for a second straight day, a divergence the source flags as worth watching.
- The damage concentrated in prior week's winners: Venice AI inference token fell 9.6% to $28.71, pump.fun dropped 11%, Hyperliquid lost 3.9% to $90.39, and XRP and bitcoin cash each fell 2.7%, giving back earlier gains including the CME futures announcement lift for BCH.
Why it matters: A 10-year yield at its highest since 2007 is the macro driver pulling Bitcoin into a second-day selloff, with the dollar as the only asset bid. With $17 billion in BTC and ETH options expiring Friday and Binance whales sitting at a 1.30 long/short ratio against broader bearish flow, Friday's expiry becomes the key stress test for the unwind.
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