Bitcoin is trading around $69.5K as U.S. long-term yields continue pushing higher. The 10Y Treasury yield is at 4.64%, while the 30Y has climbed to 5.19% levels that can put meaningful pressure on risk assets by making bonds more attractive and tightening financial conditions.
The bigger concern is the continued rise in the long end of the curve. A 30Y yield above 5% reflects growing demand for compensation around inflation, fiscal spending and long-term debt risks. For Bitcoin, this creates a tougher liquidity environment. Until yields stabilize or begin moving lower, $BTC may continue struggling to establish a sustained upside move.
(Chart Via Swissblock)
#Bitcoin Price Prediction: What is Bitcoins next move?# #BTC Price Analysis#
The bigger concern is the continued rise in the long end of the curve. A 30Y yield above 5% reflects growing demand for compensation around inflation, fiscal spending and long-term debt risks. For Bitcoin, this creates a tougher liquidity environment. Until yields stabilize or begin moving lower, $BTC may continue struggling to establish a sustained upside move.
(Chart Via Swissblock)
#Bitcoin Price Prediction: What is Bitcoins next move?# #BTC Price Analysis#