Bitfinex said Bitcoin rose 2% this week, but its absorption-to-emissions ratio fell to 1.3× from 5.3× in late February, signaling weaker demand against miner supply. The 10-year TIPS yield has climbed more than 30 basis points to 2.02% since Feb. 28, and Bitfinex said higher real yields reduce the appeal of non-yielding assets like Bitcoin.

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