Home›Crypto›Market Structure›Bitcoin holds above pre-bond-buyback levels as Treasur…

Bitcoin holds above pre-bond-buyback levels as Treasury yields rise

CoinDesk notes the U.S. 10-year Treasury yield pushed above 4.8%, a move that helped pull Bitcoin back from recent highs near $81,000.

Reported · Written up by our desk · Market Structure

CoinDesk reports that former UK Prime Minister Liz Truss warned the U.K. could face emergency spending cuts if bond market pressure forces austerity, pointing to rising debt and currency debasement concerns.

According to CoinDesk, Truss said surging global bond yields reflect mounting government debt, and criticized the Bank of England for printing money and debasing the currency, describing the U.K. as one of the most exposed major economies.

The report links the broader selloff to higher borrowing costs across multiple countries, with yields accelerating in the U.S., Japan, France, and Germany, and says the benchmark U.S. 10-year Treasury yield rose above 4.8% after previously falling as low as 4.62% following a longer-dated bond buyback announcement.

CoinDesk adds that amid the move in rates, Bitcoin retreated from recent highs of about $81,000 to roughly $76,500, but still remains above the level seen before the U.S. Treasury bond-buyback announcement, while gold fell back from around $4,700 an ounce to about $4,300.

Latest closeGold $4,431.70 ▲1.9%|Bitcoin $77,563.82 ▲0.2%

More like this

Sources