The data proves it: Bitcoin doesn't care about rising bond yields over long-term
Source: CoinDesk ·
From the source
Long-term, BTC ignores rising bond yields. In the short term, however, surging bond volatility could easily dampen crypto's animal spirits. As global bond yields rise, the usual narrative frames it as bearish for bitcoin BTC $83,218.14 . Yet over most of BTC’s history, the asset has shown little to no consistent correlation with bonds. Yields snapped back into focus Wednesday. The U.S. 10-year jumped 15 basis points to its highest level since 2007, topping 5.13%, and pulled yields higher across the globe, as the feature image shows. The standard interpretation is that as yields climb, the opportunity cost of holding non-yielding assets like bitcoin and gold rises, potentially pulling money toward bonds instead. In short, it’s a headwind, not a tailwind, for crypto. That logic makes sense on paper. But correlations don't back it up. The 90-day correlation between bitcoin's daily returns and the U.S. 10-year yield's daily moves is just −0.18, according to data analyzed by CoinDesk.…