Analysts see 10-year Treasury yield hitting 6%. Bitcoin bulls shouldn’t panic
Why yields are rising matters more for bitcoin than how high they go.
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Summary
- Bitcoin could benefit if yields rise because of fiscal fears, as investors may seek alternatives to government debt, but it could suffer if renewed Federal Reserve tightening drives the increase.
- Some analysts expect the 10-year Treasury yield to reach 6%, driven largely by concerns about federal deficits, debt growth and competition for capital.
- Since the end of 2023, the 10-year yield has risen to 5.23% while bitcoin has roughly doubled to $86,000, suggesting that higher yields alone do not determine the cryptocurrency’s performance.
