Rising U.S. bond yields pose concern for Bitcoin despite recent gains

Bitcoin has climbed 11% in the past week, nearing its July highs, but Bitbank analyst Yuya Hasegawa warns that rising U.S. bond yields could negatively impact BTC, Decrypt reported. Elevated bond yields may draw investors away from risk assets like Bitcoin. Hasegawa also highlighted concerns that stronger-than-expected U.S. retail sales and declining jobless claims could slow the Federal Reserve's rate cuts. Despite this, there’s still a chance for a 25 basis point rate cut in November, with market sentiment mostly in agreement.