Bitcoin May Follow Bond Yields More Than the Fed: CoinShares
Inflows of $11.1B since mid-July are cooling while 10-year yields sit at multi-decade highs above 5.3%. The fiscal-sustainability read on Bitcoin is now the move worth watching.
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Inflows of $11.1B since mid-July are cooling while 10-year yields sit at multi-decade highs above 5.3%. The fiscal-sustainability read on Bitcoin is now the move worth watching.
The $218B year-over-year jump widens the Treasury supply pipeline at a moment when long-duration yields and the dollar are already under pressure.
Higher yields and a stronger dollar are tightening financial conditions, putting pressure on risk assets as silver slips below $59 an ounce.
Rising Treasury yields and renewed rate-hike expectations add pressure as traders debate how urgently wallets must prepare for advances in AI-driven mathematics.
Higher oil and Treasury yields are adding pressure across risk assets, even as the Fear & Greed Index remains in greed territory.
Rising oil and Treasury yields are tightening pressure on risk assets, while roughly $550 million in leveraged crypto positions were recently liquidated.
Daily correlations remain weak, but monthly results shift across the post-ETF period, underscoring how much the apparent relationship depends on the measurement window.
The rise in long-term borrowing costs adds pressure to rate-sensitive assets, including equities and crypto, as investors reassess the cost of capital.
The analyst sees the next few weeks as a key test for silver, with $60 in focus and historical midterm-year patterns offering a possible window for a low.
A break below the recent low near $83,000 would strengthen the bearish case, while easing Treasury yields have offered markets some relief.
The pullback came after BTC failed to clear $87,000, while market sentiment remained in greed territory despite pressure on risk assets.
The repeated ceiling comes as Treasury yields climb and stocks hold near records, leaving Bitcoin traders watching for a breakout or a sharper volatility move.
A possible turn lower in yields after the midterms could ease pressure on risk assets, but the forecast hinges on inflation, Fed policy and bond-market expectations.
Soft hiring and slower wage growth support a near-term Fed pause, but a 5.25% 10-year Treasury yield remains a counterweight to risk appetite.
Softer U.S. jobs data and a falling Treasury yield lifted risk assets, but Bitcoin has now stalled twice below its late-September peak near $87,400.
Stablecoin reserve income tracks short-term rates such as SOFR, while Bitcoin borrowers face costs set by their loan terms and refinancing needs.
The jobless-rate increase reflects more people seeking work, not a surge in layoffs, while rising yields and wider credit spreads complicate the market outlook.
ETF demand helped Bitcoin withstand the bond selloff, but higher rates raised the cost of leverage and weakened the case for low-risk DeFi yields.
Payrolls are forecast to rise by 90,000, with the unemployment rate expected to hold at 4.1%. Gold and tech futures are also edging higher.
A 10-year Treasury yield at 5.34% and a DXY at an 18-month high would normally drag risk assets lower. Bitcoin's overnight push through $86,000 says that decoupling is starting to crack.