Bitcoin fell below $84,300 on Thursday as U.S. 10-year bond yields surpassed 5.1%, a peak not seen since July 2007, making non-yielding assets less attractive to hold. Approximately 182,000 BTC option contracts worth $15.6 billion in notional value expire Friday at 10 AM Paris time on Deribit, with a max pain level set at $76,000. The Trump-Xi summit at the White House adds geopolitical uncertainty, with markets watching risks around rare earths, artificial intelligence and Taiwan. Durable goods orders and U.S. consumer confidence data released in the afternoon, along with the $84,000 level as a reference point, are other factors to monitor. James Seyffart of Bloomberg Intelligence estimates the average cost basis for bitcoin ETF holders at $81,700, a floor just 3% below the current price.
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