Bitcoin is rejected at $83K as US bond yields reverse higher with equities

Bitcoin (BTC) traded below $82,000 after Monday’s Wall Street open as crypto diverged from rising stocks and bond yields.Key points:Bitcoin gave up early-week gains as ask liquidity amassed above $83,000 across exchanges.The Nasdaq Composite Index followed Asian equities higher, gaining 1.5% in the first hours of trading on Monday.US bond yields continued to move in lockstep with stocks, with the 10-year yield back at 5.13% ahead of major corporate earnings announcements.Bitcoin treads water as stocks, bond yields reboundData from TradingView showed BTC/USD dipping to $81,678 on Bitstamp after reaching $83,062 earlier in the day.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBoth Asia and US equities rallied to start the week, helping to recoup losses from the week prior as selling pressure on tech stocks eased. South Korea’s tech-heavy KOSPI Composite Index finished the day 1.76% higher at 5,768 points, while the Nasdaq Composite Index was up 1.5% at the time of writing.Nasdaq Composite Index one-hour chart. Source: Cointelegraph/TradingViewContinuing a pattern observed in recent weeks, US bond yields rose in lockstep with equities ahead of anticipated strong corporate e...