Bitcoin price stabilizes while ONDO rallies as US Treasury yields reach their highest levels since 2007

Bitcoin Falls Below $83,000 During Volatile Thursday US Trading Session as US 10-Year Treasury Yield Hits 5.18% and Ondo Reclaims $0.50

Bitcoin (BTC) traded roughly between $83,000 and $84,500 on Thursday during US hours, after briefly falling below $83,000 before stabilizing near $84,500 amid rising bond yields. The move tracked a sharp increase in the US 10-year Treasury yield, which climbed to 5.18%, its highest level since July 2007, according to TradingView data. Ondo Finance (ONDO), meanwhile, was among the top-performing altcoins and returned to the psychological $0.50 level.

Higher Treasury yields pressured Bitcoin

The US 10-year Treasury yield rose more than 4 basis points on Thursday to 5.18%, the highest since July 2007. The 30-year yield reached 5.46%, reclaiming highs last seen in 2004. The US 10-year note has gained 70 basis points this month, a move that matters for risk assets because higher government bond yields make fixed-income instruments more attractive relative to non-yielding assets such as Bitcoin.

The yield climb came on a 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 came under renewed pressure. Mohamed A. El-Erian, president of Queen's College Cambridge, wrote on X that the Japanese yen had weakened back to 159 per US dollar, approaching the established foreign-exchange intervention zone. He added that Japanese foreign-exchange intervention typically involves selling US securities to buy yen, potentially adding yield pressure to an already sensitive Treasury market.

Even so, Bitcoin has extended its August rally, challenging bearish predictions tied to the traditional four-year cycle. For readers, the Thursday session showed how quickly macro forces can test crypto prices: a rise in long-term US rates created pressure, but Bitcoin still held near $84,500 after its brief dip below $83,000.

Ondo reclaims $0.50 after BlackRock-backed portfolios launch

Ondo's token was among the top gainers in the last 24 hours and rose back to $0.50 for the first time since December 2025, according to CoinGecko data. The recovery came despite the recent failure of the CLARITY Act to pass through a procedural vote in the US Senate.

The rally followed the Thursday launch of BlackRock-backed Ondo Intelligent Portfolios. While most tokenized real-world asset products focus on tokenizing individual stocks and commodities, the new offering allows non-US users to buy tokenized shares in diversified portfolios. The tokens went live on Ethereum and BNB Chain, with settlement handled through CoW Protocol, CoW DAO said on X.

The first three tokens track model portfolio strategies developed by BlackRock for Ondo: BLKHIon (High Income), BLKDIGon (Diversified Growth) and BLKGRWon (High Growth). That product shift gives ONDO a clearer narrative beyond general altcoin sentiment, because the token's move coincided with a concrete expansion in the types of financial products being brought on-chain.

What the session suggests for crypto markets

The Thursday price action reflected two competing forces. Macro rates pushed Bitcoin lower, while Ondo's product launch and tokenized portfolio rollout supported one of the day's strongest altcoin moves. The key question for investors is whether rising US Treasury yields will continue to weigh on non-yielding assets, or whether crypto-specific catalysts can offset the pressure from bond markets.