Bitcoin experienced a dramatic price pullback, leaving investors wondering what triggered the sudden shift. Despite reaching an all-time high of $109,754, the digital asset retreated significantly to around the $107,000 mark. This swift reversal coincided with rising US Treasury yields, highlighting the intricate connection between traditional finance and crypto markets. 20-year U.S. Treasury bonds saw weak demand, causing yields to spike. This rise in yields made government bonds more appealing compared to riskier assets like cryptocurrencies. The resulting capital flight from Bitcoin and other risk assets like Ethereum and Solana led to a broader market selloff.