BTC less sensitive than gold to rising U.S. Treasury yields: CoinDesk

Bitcoin appears to be less sensitive than gold to moves in U.S. Treasury yields, according to a CoinDesk analysis. As U.S. Treasury yields rise amid concerns about the country’s fiscal health, BTC and gold have continued to gain in tandem, the outlet said. The 90-day correlation coefficient between the two assets’ daily returns currently stands at 0.59, the highest level since 2020, indicating they have recently moved in broadly similar directions. By contrast, the 90-day correlation between BTC and the yield on the U.S. 10-year Treasury note was -0.17, suggesting Bitcoin is less tied than gold to the bond market and interest-rate changes. CoinDesk said this could leave BTC relatively less affected than gold by rising yields as U.S. fiscal uncertainty and financial-market pressure intensify.