BitcoinShort
Something broke...BTC & US10Y Yield
Updated
Look at this. I actually wasn't aware of this correlation but it's right there.
Usually BTC rose before the yields would take back off in the past but it hasn't this time and yields have broken out MASSIVELY...
Perhaps BTC was only trailing the 10Y up with the past knowledge that the Federal Reserve would just lower it again, but Bitcoin is NOT giving that signal this time... I would be seriously weary if I were a big crypto holder.
The correlation has broken. BTC in fact IS signaling that the Fed will NOT lower rates back down this time as they have in the past.
Listen to the BTC. The BTC knows.
Also, the 10 Year Treasury is the underpinning of our financial system, so...maybe we should all start paying more attention to this.
(Not financial or investment advice. Just what makes sense to me.)
Usually BTC rose before the yields would take back off in the past but it hasn't this time and yields have broken out MASSIVELY...
Perhaps BTC was only trailing the 10Y up with the past knowledge that the Federal Reserve would just lower it again, but Bitcoin is NOT giving that signal this time... I would be seriously weary if I were a big crypto holder.
The correlation has broken. BTC in fact IS signaling that the Fed will NOT lower rates back down this time as they have in the past.
Listen to the BTC. The BTC knows.
Also, the 10 Year Treasury is the underpinning of our financial system, so...maybe we should all start paying more attention to this.
(Not financial or investment advice. Just what makes sense to me.)
Note
BTC being weak AF right now.
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