Today, the crypto market suddenly dropped by 3.4% within just a few hours, wiping billions from the total market value. At the same time, Bitcoin price fell to a two-week low and is now trading around $66,510.

Other major cryptocurrencies like ETH, XRP, Solana, and AVAX also followed the drop, each falling around 5%. As a result, market sentiment has shifted to extreme fear, with the index at 23.

So, what is really causing the crypto market to crash today?

10 Year U.S Treasury Yields Hit July High

One of the biggest reasons behind the decline is the rising U.S. Treasury yields. The 10-year yield is nearing 4.5%, its highest level since July. Higher yields make risk assets like crypto less attractive as investors shift toward safer…