Bitcoin's price experienced a drop of 4-6% on May 20, 2023, as the 30-year US Treasury yield reached 5.197%, its highest level since July 2007. This increase in yields reflects heightened inflation concerns and geopolitical tensions, leading to a risk-off sentiment that has negatively impacted high-beta assets, including cryptocurrencies. The rise in Treasury yields has raised discount rates, making holding Bitcoin less attractive compared to Treasuries, resulting in approximately $100 million in liquidations of leveraged long positions in the crypto market. Additionally, geopolitical pressures, particularly statements regarding potential military actions in Iran, have reinforced the dollar's status as a safe haven. Bitcoin ETF data has shown the first net outflows in two weeks, indicating that institutional investors are becoming hesitant to invest amid rising rates. For Bitcoin to regain momentum, analysts believe the 10-year yield must stabilize between 3.75% and 4.0%. If this occurs, Bitcoin could see initial resistance at $95,000, but if yields remain high, it may perpetuate a cycle of liquidation.