The Bitcoin price plunged below $87,000 early Monday, triggered by a sharp spike in Japanese bond yields — the 2-year yield hit its highest level in 17 years — which strengthened the yen and prompted risk-off moves in Asian markets. CoinDesk+1

The yield surge has rattled leveraged crypto positions globally, hitting not just Bitcoin but also Ethereum (ETH) and XRP. CoinDesk+2CoinDesk+2

The downturn underscores renewed macroeconomic pressure on cryptocurrencies — as bond markets and fiat-currency moves ripple through risk assets — and raises doubts over whether the recent rebound was stable. Analysts warn of potential further downside unless global liquidity conditions improve or a fresh catalyst emerges. AInvest+2CoinDesk+2