BTC Price Drops Back To $83K – Global Bond Rout Drags MSTR, COIN, CRCL, BMNR Stocks Toward September Lows

Global Bond Rout Adds to Market Pressures##The global bond selloff continued to weigh on the cryptocurrency and stock market, with Bitcoin's price dropping by over 3% in the last 24 hours. The US 30-year Treasury yield reached 5.715%, while the US Dollar Index climbed above 102, adding to the market pressures. Large-cap crypto equities, including MSTR, COIN, CRCL, and BMNR, also fell under pressure, with BMNR stock dropping as much as 4.5% in pre-market trading.#### Bitcoin's Drop Wipes Out Crypto Bets##The drop in Bitcoin's price wiped out over $600 million in crypto bets, with $550 million coming from short positions. The global bond selloff has been a major factor in the decline, with renewed dollar strength adding to the pressure. The US Dollar Index (DXY) has climbed back above 102, making it harder for cryptocurrencies to gain traction.#### Impact on Large-Cap Crypto Equities##MSTR, COIN, CRCL, and BMNR were among the large-cap crypto equities that fell under pressure. BMNR stock dropped as much as 4.5% in pre-market trading, while MSTR stock fell 3.7% and COIN stock tumbled 4%. CRCL stock, however, drifted 2.7% lower. Coinbase and Robinhood received bullish price-target revisions from Wall Street, but crypto-linked equities remained under pressure.#### Outlook##The global bond selloff is expected to continue, with the US 10-year Treasury yield standing at 5.333% and the 30-year yield reaching a fresh high of 5.715%. The US Dollar Index (DXY) is also expected to remain strong, making it harder for cryptocurrencies to gain traction. The outlook for Bitcoin and large-cap crypto equities remains uncertain, with the global bond selloff continuing to weigh on the market.