Cryptocurrency markets surged higher Thursday, with the price of bitcoin (BTC) breaking above the $27,000 level for the first time alongside easing

Cryptocurrency markets surged higher Thursday, with the price of bitcoin (BTC) breaking above the $27,000 level for the first time alongside easing

The U.S. 10-year Treasury yield rose another nine basis points Wednesday to a new 16-year high of 4.63%.

The U.S. 10-year Treasury yield rose another nine basis points Wednesday to a new 16-year high of 4.63%.

Higher yields are taking a toll on traditional assets as well, with the Nasdaq sinking 1.2% to its lowest level since early June.

Higher yields are taking a toll on traditional assets as well, with the Nasdaq sinking 1.2% to its lowest level since early June.

The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.

The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.

BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.

BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.