Safe-haven buying pushes the U.S. 10-year Treasury yield below 5%, marking the first time since September 23.

BlockBeats news, October 22 - According to BIT(bit.com) market data, the U.S. 10-year Treasury yield fell below 5% for the first time since September 23, dropping 14.97 basis points intraday.

The drop below 5% was primarily driven by safe-haven buying spurred by a sell-off in tech and AI-related stocks, with the traditional stock-bond seesaw effect re-emerging. Yields had previously surged to multi-year highs due to factors such as sticky inflation and fiscal supply, and have recently pulled back in stages as risk appetite cooled. Although the decline in long-end rates helps ease financing costs and valuation pressures, the absolute level remains elevated, and the driver comes from weakening risk assets rather than clear signals of growth or policy shifts, making it a short-term neutral-to-cautious signal for risk assets such as crypto.