US 10-Year Yield Climbs Back to 4.46% — Bitcoin Holds Above $80K Anyway

The US 10-year Treasury yield closed at 4.457% on May 12, touching an intraday high of 4.469%, according to Glassnode's OHLC data. The move marks a rebound toward the 4.4% zone that previously coincided with notable pressure on Bitcoin.

What's different this cycle: BTC has recovered above $80,000 despite the rates headwind, suggesting the market is absorbing the macro drag more effectively than it did during earlier yield spikes. Whether that resilience reflects structural demand, reduced leverage sensitivity, or simply a changed correlation regime remains an open question — but the divergence is worth watching.

The 10-year yield remains a key benchmark for long-term borrowing costs and risk-asset pricing broadly. A sustained move above 4.5% would test how durable Bitcoin's current macro insulation actually is.