Would Bitcoin Price Crash If US Bond Yields Rise Above 2 Percent?

Bitcoin has struggled to capitalize on its recent bull run above $61,000 as traders continue to assess the impact of rising US bond yields on the cryptocurrency market. And now, with markets anticipating further interest rate growth in the 10-year Treasury note, an overvalued BTC/USD exchange rate is clueless about where to head next.

The pair has fallen by up to 13.87 percent from its record high of $61,788 (data from Coinbase) in the same period that saw the 10-year note yields achieving their 14-month high of 1.726 percent. The narrative is simple: investors have sold longer-dated government bonds en masse to seek opportunities in sectors that would benefit the most after the economy reopens, including energy and travel.

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Keep reading this article on Newsbtc.com.

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