US Treasury yield hits 19-year high as Bitcoin steadies and ONDO rallies

The US 10-year Treasury yield rose more than 4 basis points to 5.18% on Thursday. TradingView data showed the yield reached its highest level since July 2007. The yield has gained 70 basis points this month. The 30-year Treasury yield reached 5.46%. Bitcoin briefly fell below $83,000 during US trading hours. Bitcoin later struggled to reclaim $84,500 and held near $84,000. ONDO rose back to $0.50 for the first time since December 2025. CoinGecko data showed that ONDO was among the top gainers in the last 24 hours. The US Treasury was scheduled to buy back up to $6 billion in bonds maturing in roughly 20 to 30 years. The buyback was part of an expanded program aimed at improving liquidity in long-dated debt markets. Mohamed A. El-Erian said Japanese foreign exchange intervention typically involves selling US securities to buy yen. El-Erian said that activity could add yield pressure to the Treasury market. BlackRock-backed Ondo Intelligent Portfolios launched on Thursday. The offering allows non-US users to buy tokenized shares in diversified portfolios. The tokens went live on Ethereum and BNB Chain. CoW Protocol handled settlement. The first three tokens track model portfolio strategies developed by BlackRock for Ondo: BLKHIon, BLKDIGon and BLKGRWon.