According to CoinMeta, as long-term government borrowing costs rise in major markets, Bitcoin prices faced new pressure on Thursday. Yields on U.S. and German government bonds reached multi-year highs during European trading hours, and the dollar also rose to an eight-week high against a basket of currencies. Bitcoin was traded at $83,443, down 2.8% within 24 hours, but still up 8.80% over the past seven days. The global cryptocurrency market also rose by 8.40% during the same period. Tradeweb data shows that the yield on 10-year U.S. government bonds is 5.148%, the highest level since 2007. The yield on 30-year U.S. government bonds rose to 5.444%, the highest level since 2004. Meanwhile, the yield on 10-year German government bonds increased by more than four basis points to 3.579%.