Dogecoin down 8%, bitcoin under $84,000 as Treasury yields hit highest level since 2007

Near-term bias: bearish for DOGE and broader crypto. The main pressure is a sharp repricing in borrowing costs: stronger U.S. business activity and rebounding oil raise growth and inflation concerns, while weak demand at the Treasury’s five-year note auction added upward pressure on yields. Higher yields make non-yielding assets less attractive and can increase the cost of leveraged crypto positions. DOGE’s steeper loss than BTC and larger tokens is consistent with its higher sensitivity to risk-off conditions.

The move could persist if yields and oil stay elevated, but the growth data also has a counterpoint: stronger activity may support broader risk appetite if inflation fears ease. Traders should watch whether Treasury yields continue rising, whether oil sustains its rebound, and how crypto behaves around Friday’s large BTC options expiry. A reversal in yields could relieve pressure; continued yield strength would keep the near-term backdrop challenging, particularly for higher-beta tokens such as DOGE.