Bitcoin pulls back from record high as bond yields spike

Bitcoin briefly hit a new all-time high of $109,754 on Wednesday before retreating to around $107,000, as rising U.S. Treasury yields triggered a broader selloff in risk assets. The pullback followed a weak 20-year bond auction, pushing the 30-year yield to 5.07%, its highest in over two years. According to CoinDesk, analysts cite profit-taking and thinner market liquidity as contributing factors. Other major cryptocurrencies, including ETH and SOL, also dipped. Traders now view the $110,000 level as a key resistance point amid elevated market volatility.