Bitcoin has shown resilience amid rising Treasury yields, which have reached 5%, as weaker-than-expected US jobs data has tempered market expectations for another Federal Reserve rate hike in October. This dynamic has supported Bitcoin’s performance despite the challenging macroeconomic backdrop.
According to CoinTelegraph, Treasury yields at 5% pose a threat to extending Bitcoin’s best quarterly performance since 2017. The slowdown in Fed tightening hopes appears to have reduced downward pressure on risk assets like cryptocurrencies, providing a more favorable environment for Bitcoin.
For Japanese investors, this development highlights the ongoing interplay between US monetary policy and global asset prices, emphasizing the importance of monitoring US economic indicators when trading FX, crypto, and equities.