Bitcoin falls below $84K as 10-year Treasury yield hits 19-year high (Cointelegraph)

Bitcoin fell below $84,000 to around $83,200 as the U.S. 10-year Treasury yield climbed above 5.1%, its highest level since 2007, as reported by Cointelegraph. Higher bond yields make government debt more attractive and can put pressure on riskier assets like Bitcoin, while stronger U.S. business data and rising oil prices also pushed expectations for an October Fed rate hike to about 75%. The U.S. Treasury is preparing a $6 billion buyback of long-dated bonds as analysts watch if Bitcoin level weakens further with $82,833 as a key level.

IBM opens beta Swift ledger link for 24/7 tokenized deposits (Cointelegraph)

IBM has added a beta connection to Swift’s blockchain-based ledger as reported by Cointelegraph. This allows banks to instruct tokenized deposit transfers using the same ISO 20022 payment messages and compliance processes they already use. Swift’s ledger was developed with more than 40 financial institutions, with 17 banks in its initial pilot, and has already been used for live cross-border tokenized deposit transactions. IBM is also offering an on-premises option so banks can keep their digital asset operations and security keys inside their own data centers instead of relying on public cloud services.

Trump administration weighs a global stablecoin plan to cement dollar’s dominance (CoinDesk)

Aiming to strengthen the dollar’s role in global finance and increase demand for U.S. Treasury securities, the Trump administration is considering a plan to promote U.S. dollar-backed stablecoins overseas through partnerships with private companies, as reported by CoinDesk. USDT and USDC already make up almost 90% of the $292.49 billion stablecoin market, while stablecoin issuers collectively hold nearly $200 billion in U.S. government debt. However, the IMF and BIS have warned that wider use of dollar stablecoins could put pressure on local currencies and make capital outflows harder to control in emerging markets.

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