Bitcoin steadies near $84,000 as Treasury yields hit 19-year high
US 10-year Treasury yields climbed to 5.18%, their highest since 2007, while Bitcoin held near $84,000 and ONDO rallied on the launch of BlackRock-backed tokenised portfolios.

Key points
- The 10-year US Treasury yield rose above 4 basis points to 5.18%, its highest since July 2007, per TradingView data.
- The 30-year yield reached 5.46%, reclaiming 2004 highs, with the 10-year up 70 basis points this month.
- Bitcoin briefly fell below $83,000 before stabilising near $84,500 during US hours.
- ONDO reclaimed $0.50 for the first time since December 2025 as Ondo Intelligent Portfolios launched on Ethereum and BNB Chain.
- The US Treasury was scheduled to buy back up to $6 billion in bonds maturing in roughly 20 to 30 years.
US Treasury yields climbed to a 19-year high on Thursday, pressuring risk assets as Bitcoin held near $84,000 and ONDO led altcoin gains, CoinTelegraph reports. The 10-year US Treasury yield rose more than 4 basis points to 5.18%, its highest level since July 2007, according to TradingView data. The 30-year yield hit 5.46%, reclaiming highs last seen in 2004.
The move 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. CoinTelegraph reports that this is part of an expanded programme aimed at improving liquidity in long-dated debt markets. International bond markets also weakened, and the Japanese yen came under renewed pressure.
Mohamed A. El-Erian, president of Queen's College Cambridge, wrote on X that the yen had weakened back to 159 per US dollar, approaching the established FX intervention zone. He said this matters beyond Japan because Japanese foreign exchange intervention typically involves selling US securities to buy yen, potentially adding yield pressure to an already sensitive Treasury market.
Yields reach 2007 highs
Higher yields make government bonds more attractive and can weigh on non-yielding assets such as Bitcoin. Even so, CoinTelegraph reports that BTC has extended its August rally, challenging bearish predictions tied to Bitcoin's traditional four-year cycle. The cryptocurrency briefly fell below $83,000 before stabilising near $84,500 during US hours.
The tokenised real-world asset token ONDO was among the top gainers over 24 hours and rose back to the psychological $0.50 level, according to CoinGecko data. It reclaimed a level last traded in December 2025 despite the recent failure of the CLARITY Act to pass a procedural vote in the US Senate.
The rally coincided with the launch on Thursday of BlackRock-backed Ondo Intelligent Portfolios. While most RWA products focus on tokenising individual stocks and commodities, the new offering lets non-US users buy tokenised shares in diversified portfolios. The tokens went live on Ethereum and BNB Chain, with settlement handled through CoW Protocol, CoW DAO said on X.
Bitcoin holds near $84,000
The first three tokens track model portfolio strategies developed by BlackRock for Ondo: BLKHIon for High Income, BLKDIGon for Diversified Growth and BLKGRWon for High Growth. The combination of rising yields and a new tokenised product launch left Bitcoin steady and ONDO among the strongest altcoin performers of the day.