The argument for why Bitcoin should hold rests on why yields are rising rather than how far.
This ascent is fuelled primarily by fiscal sustainability concerns rather than robust economic expansion. Higher yields driven by growth compress the appeal of non-yielding assets while the growth supports risk. Fiscal-driven yields carry no such offset, and signal investors demanding more compensation to hold government paper at all.
On that reading, the move should not penalise gold and Bitcoin the way a growth-driven rate spike would. $BTC

‌Bitcoin's 90-day correlation with the 10-year sits at −0.17 against gold's −0.41.
Tuesday tests that argument directly. Bitcoin is falling anyway.
Mischler Financial's Tom di Galoma listed the drivers as rate expectations, corporate and government debt supply, growth prospects and the long-term fiscal path. "Our budget, deficit, and overall debt structure continue to expand," he said. National debt approached $40 trillion in August, and the 10-year has surged 80 basis points this year with 25 in September alone.#每周来晒 $ETH