On Thursday, bitcoin prices dropped slightly alongside U.S. stock futures. The benchmark 10-year Treasury yield reached 2% for only the second time since 2019.

Bitcoin was down 1.7% at $43,937.64 just before 9:53 am. Coin Metrics reports that ET is the time zone. This was just after important inflation data revealed higher-than-expected prices, which drove the 10-year yield higher.

On Thursday, the benchmark yield was at 2.001%.

Technology stocks are less likely to decline as their yields rise as companies that focus on growth tend to pay higher long-term returns.

Since the inception of crypto-assets as risk assets, Bitcoin trades like stocks and equities for several months. The cryptocurrency is selling in parallel to tech stocks which have declined sharply in the first half of the year despite rebounding in February.