Treasury notes could make it more appealing to invest in them over risky assets like Bitcoin, possibly forcing investors to pull their money out of risky assets like cryptocurrency.
The yield on 10-year U.S. Yuya Hasegawa, a crypto market analyst, said that the rising yields on U.S. Treasury notes has hovered between 4.02% and 4.08% this month, down slightly from September when yields climbed as high as 4.3%.
Bitcoin has risen 11% in the past week but it could face problems in the coming months due to macroeconomic factors such as rising U.S. Hasegawa also saw reason to worry about the strong retail sales and declining jobless claims that have raised concerns the Fed may not continue cutting rates so quickly.
However, he said there is still a “reasonable chance” the Federal Open Market Committee (FOMC) will enact a 25 basis point cut after its meeting in early November.
bond yields.
