The whole macro case for BTC rests on the 10-year real yield, Bitfinex says
Crypto exchange Bitfinex has said that bitcoins (BTC) bullish case rests on the real or inflation-adjusted yield on the 10-year U.S. Treasury note.
“The 10-year real yield has not stayed above 2.5% since before Bitcoin existed, so there is no price history above that line. It is now at 2.41%, nine basis points below,” the exchange said on X.
“Hold above 2.5%, and the macro tailwind is gone,” it added.
Bond yields have risen sharply since the onset of the Iran war in late February, weakening the case for risk-taking in financial markets. Yet, stocks have continued to hit new record highs, leaving bitcoin and gold far behind.