Deep-sea TechFlow news: On September 12, according to Cointelegraph data, Bitcoin (BTC) rebounded above $79,000 on Friday amid volatility. It dipped to as low as $76,000 during the day, then quickly rebounded by more than 3%. Earlier US consumer price index (CPI) data showed that core inflation rose 0.3% month over month in August, exceeding the market’s expectation of 0.2%. Headline inflation recorded 3.4% year over year, roughly in line with expectations. Driven by the positive sentiment, US stocks rebounded in tandem, with the S&P 500 and Nasdaq Composite rising by about 1% each.

Meanwhile, US Treasury yields saw sharp fluctuations. After the release of CPI data, the 30-year Treasury yield briefly surged to its highest level since June 2004, before falling back to 5.309%. Strong economic data and rising yields prompted traders to increase hedging bets. According to CME Group data, the probability that the Fed will hike rates by 25 basis points at its September 16 meeting has risen to 85%, up significantly from a week earlier.

Regarding the impact of a high-yield environment on crypto assets, trading firm QCP Capital has issued a warning, noting that the current 5% risk-free yield poses a serious challenge to Bitcoin. The firm believes that a “high-yield” setup lacking a nominal growth impetus is Bitcoin’s “worst-case scenario,” which could directly undermine the structural liquidity narrative that previously drove prices higher.