BTC falls back below $85,000, and the market again puts the pressure of “higher interest rates for longer” on the table.
NewsBTC noted that after strong U.S. PMI data, U.S. 10-year Treasury yields rose above 5%, and S&P Global’s September flash U.S. composite PMI increased to 58.4—the highest level since July 2021. High yields boost the appeal of dollar-denominated assets, but they also suppress the valuation of risk assets.
However, it’s also clear that institutional buying and the prior squeeze-driven rally trend are still supporting BTC, but in the short term it’s more likely to be led by interest-rate expectations. If yields continue to rise, chase-buying funds may pull back first, and pullback-related volatility could intensify. Are you more focused on BTC reclaiming the $85,000 level, or on whether Treasury yields can retreat?
Figure 1: BTC/USD market chart shown on the NewsBTC page
Image source: https://www.newsbtc.com/news/bitcoin/bitcoin-falls-back-below-85k-as-treasury-yields-jump-above-5/
NewsBTC noted that after strong U.S. PMI data, U.S. 10-year Treasury yields rose above 5%, and S&P Global’s September flash U.S. composite PMI increased to 58.4—the highest level since July 2021. High yields boost the appeal of dollar-denominated assets, but they also suppress the valuation of risk assets.
However, it’s also clear that institutional buying and the prior squeeze-driven rally trend are still supporting BTC, but in the short term it’s more likely to be led by interest-rate expectations. If yields continue to rise, chase-buying funds may pull back first, and pullback-related volatility could intensify. Are you more focused on BTC reclaiming the $85,000 level, or on whether Treasury yields can retreat?
Figure 1: BTC/USD market chart shown on the NewsBTC page
Image source: https://www.newsbtc.com/news/bitcoin/bitcoin-falls-back-below-85k-as-treasury-yields-jump-above-5/
