Rising U.S. 30-year Treasury yield weighs on BTC, analyst says

As the U.S. 30-year Treasury yield reached 5.06%, its highest level since 2007, crypto analyst Hupzy said higher long-term Treasury yields create a structural headwind for the valuations of risk assets such as Bitcoin. Hupzy added that in an environment where Treasury yields remain above 5%, investors are more likely to favor safe-haven assets over risk assets, reducing the appeal of speculative assets. A break above the 5.20% level last seen in May could signal the start of a prolonged high-rate environment and further tighten financial conditions.