Rising bond yields may no longer be a negative for BTC: CoinDesk

The view that rising developed-market government bond yields are inherently negative for Bitcoin may no longer hold, according to a CoinDesk analysis. U.S. 10-year Treasury yields have risen 58 basis points this year to 4.81%, while the dollar index has gained just 0.9% over the same period, CoinDesk said. In Japan, 10-year government bond yields climbed 90 basis points, while the yen weakened instead. That suggests markets may be interpreting higher yields not as a sign of economic strength or currency strength, but as a signal of growing government fiscal strain. If that trend continues, CoinDesk said, it could favor assets such as BTC and gold, whose supply is difficult to expand arbitrarily.