Bitcoin now has a 5% competitor.
The US 10Y hit 5.12%, its highest since 2007, as BTC pulled back from ~$87K to ~$84K.
Higher yields raise the hurdle for non yielding assets and leverage.
But BTC's 90 day correlation with the 10Y is only -0.18.
Headwind, not destiny. $BTC
#BTC Price Analysis# #Macro Insights#
#BTC #Bitcoin
The US 10Y hit 5.12%, its highest since 2007, as BTC pulled back from ~$87K to ~$84K.
Higher yields raise the hurdle for non yielding assets and leverage.
But BTC's 90 day correlation with the 10Y is only -0.18.
Headwind, not destiny. $BTC
#BTC Price Analysis# #Macro Insights#
#BTC #Bitcoin