Bitcoin Rising Even as Treasury Yields Hover Near Multiyear Highs
Dow Jones
Yesterday
1045 ET - Bitcoin is up 0.7%, managing to mitigate pressure coming from higher Treasury yields. After posting a big surge earlier this week, Bitcoin and cryptocurrencies in general got squeezed due largely to the stronger U.S. dollar and those higher yields. "With global bond yields at elevated levels, non-yielding assets like bitcoin remain under increased pressure," says Inki Cho of Exness in a note. "Looking ahead, the outlook increasingly hinges on whether bond markets find some relief." Calming of the fighting in the Middle East may be a key step in providing that relief, Cho says. Ethereum is up 0.8%, XRP climbs 2.8%, and solana is up 2%.
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