Bitcoin Drops 15%, Hits Critical Support

Bitcoin's price fell to $92,590, marking a 15% pullback from its recent peak. This decline coincided with profit-taking by investors as U.S. bond yields surged to near two-year highs (4.95% for the 30-year bond). Persistent concerns over the Federal Reserve's slower-than-expected rate cuts, driven by inflation remaining above 2%, have added pressure to the markets.