Bitcoin Price Trades Near $71,200 Amid Treasury Yields and Nvidia Shakeup

The bitcoin price traded near $71,200 on Thursday evening after slipping to a fresh session low near $71,000, marking its weakest level since August 20. The decline began during the morning hours, with the asset falling below $72,000 prior to the opening bell and dropping to about $71,150 shortly after 10 a.m. Eastern. Although a subsequent bounce briefly attempted to recover ground, the price printed its new session low around 6:23 p.m. Data indicates the asset currently stands roughly $30,400 below its closing price from one year prior.

Broader financial markets experienced a similar downward trend. U.S. stocks closed modestly lower, with the Nasdaq Composite slipping 0.39% to 25,366.09, the S&P 500 losing 0.35% to 7,592.40, and the Dow Jones Industrial Average falling 0.36% to 52,297.09. Nvidia shares finished 4.3% lower at $166.19 after the company announced that CEO Jensen Huang had resigned from his positions as president, chief executive, and board member effective immediately, naming Chief Financial Officer Colette Kress as interim CEO. Meanwhile, bitcoin-linked equities faced heavier pressure, with Strategy falling 6.5% and BlackRock’s iShares Bitcoin Trust declining 4.5% following prolonged outflows.

Rising Treasury yields and broader market pressures pushed the bitcoin price down to a multi-month low.

Bond markets played a significant role during the afternoon session. The 10-year Treasury yield rose about 12 basis points to 5.105%, reaching 5.12%—its highest level since October 21—following comments from President Donald Trump regarding trade relations. The two-year yield, closely tied to Federal Reserve expectations, climbed about 14 basis points to 4.867%. These elevated yields reflect continued market expectations that the central bank may tighten monetary policy further, with fed funds futures pricing in a potential quarter-point rate hike in December.

Additional regulatory and corporate updates emerged late in the day. The Justice Department reported it has court authority to seize or restrain over $1.2 billion in cryptocurrency stolen from Binance during an October heist. In a separate statement, Binance announced it fully covered $6.34 billion in user losses using company funds. Additionally, the U.S. Treasury Department revealed a $404 billion deficit for October, the first month of fiscal 2027, driven by a combination of falling receipts and shifted benefit payments.

Why it matters

The convergence of rising sovereign bond yields, shifting monetary policy expectations, and macroeconomic deficits directly influences digital asset valuations. Because higher interest rates increase the cost of holding non-yielding assets, broader financial shifts continue to impact cryptocurrency market dynamics across global regions.