A debt obligation note issued by the U.S. Treasury that matures in 10 years. When the yield raises investors tend to ditch crypto and its risks to safer assets like treasury bonds

Cryptocurrency prices retreated sharply today, erasing some of the gains made on Monday as concerns about the bond market intensified.
#Bitcoin $BTC dropped by 4%, reaching an intraday low of $97,700. Similarly, #Ethereum $ETH , #Ripple $XRP , and #Solana $SOL fell by over 5%.

It is believed that this price drop came after a sharp increase in the 10-year U.S. Treasury yield.