Bitcoin slides to $83,300 as bond yields hit highest level since 2007

Bitcoin traded at $83,344, down 1.23% since midnight UTC. A bond selloff pushed the U.S. 10-year Treasury yield to its highest level since 2007. The yield increase weighed on cryptocurrency markets for a second day. Ether fell 1.55%. XRP fell 2.87%. Solana traded at $113.14 after falling 1.61%. NEAR fell 3.32%. HYPE fell 3.94%. The dollar index rose 0.13% to 101.24. The dollar index reached its highest level since July. Gold fell 0.71% to $4,257. S&P 500 futures fell 0.61%. Nasdaq 100 futures fell more than 1%. Short positions accounted for more than 52% of 24-hour taker volume. Taker volume rose 10% to $250 billion. Open interest fell nearly 6% to $149 billion. The combination points to existing positions closing rather than fresh short positions building. Bitcoin futures open interest fell 6% as Bitcoin's price fell 3% over 24 hours. The difference points to long positions closing. Binance whale accounts had a long-to-short ratio of 1.30. The whale position ratio stayed below 2 for a second consecutive day. XRP open interest fell faster than its price. Ethereum and Solana open interest fell at roughly the same rate as their prices. The 24-hour open-interest-adjusted cumulative volume delta was negative across major assets including Bitcoin and Ethereum. XRP, SUI and AVAX had the most negative readings. Litecoin rose nearly 8% over 24 hours. Litecoin futures open interest rose to 8.96 million tokens. That level was the highest since January 18. Litecoin's open interest has risen since September 19. The increase in Litecoin's price and token-denominated open interest points to new long positions. Bitcoin and Ethereum 30-day implied volatility remained within recent ranges. Short-term implied volatility remained low relative to realized volatility for both assets. Bitcoin's one-week options skew turned positive. Ethereum's skew made the same shift. More than $17 billion in Bitcoin and Ethereum options expire on Deribit Friday. Most of those positions were in the money. Traders may roll the positions into later expiries or allow them to settle, which could affect volatility into the weekend.