Why surging US real yields are quietly forcing Bitcoin under $84,000

Rising U.S. real yields are increasing the opportunity cost of holding non-yielding assets such as Bitcoin, putting pressure on its price below $84,000. Higher inflation-adjusted Treasury returns also strengthen the dollar and encourage investors to reduce exposure to riskier assets, including cryptocurrencies. The key implication is that Bitcoin may remain vulnerable to further downside while real yields stay elevated, regardless of longer-term adoption narratives.