Bitcoin drops from eight-month high as yields and dollar rise

Bitcoin retreated from an eight-month high as rising Treasury yields and a stronger U.S. dollar reduced demand for risk assets. The move followed renewed expectations that the Federal Reserve may keep interest rates higher for longer, limiting Bitcoin’s near-term upside despite its holding near $84,000. Altcoins, led by ONDO, outperformed during the pause, suggesting continued speculative appetite but a more cautious environment for Bitcoin.