6% is the warning level being flagged for US 10-year Treasury yields, a height not seen since 2000. Pimco chief investment officer Dan Ivascyn warned that yields could reach this level due to rising oil prices, inflation fears, and ballooning US public debt. This matters because surging yields raise borrowing costs, sucking liquidity out of risk assets like crypto. According to Reuters, Ivascyn noted that a move to 5.5% or higher would likely trigger heavy weakness in equities and credit, which directly affects our market sentiment.
This macro drag comes as $BTC chops at $82,688 on Binance, down 0.21% on the day. Despite the slow price action, the crowd remains heavily positioned with 63.9% of accounts holding long positions on Binance Futures. If bond yields continue their march upward, stop-out activity from leveraged traditional funds could trigger a broader market unwind that hits crypto. I am watching the daily MA50 at $80,738.
Source: Reuters, Investing.com, Firstpost
This macro drag comes as $BTC chops at $82,688 on Binance, down 0.21% on the day. Despite the slow price action, the crowd remains heavily positioned with 63.9% of accounts holding long positions on Binance Futures. If bond yields continue their march upward, stop-out activity from leveraged traditional funds could trigger a broader market unwind that hits crypto. I am watching the daily MA50 at $80,738.
Source: Reuters, Investing.com, Firstpost