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Treasury yields above 5% challenge Bitcoin’s push after strong Q3

Bitcoin gained 43% in the third quarter, but Delphi Digital warned the rally is grinding higher against rising Treasury yields and Fed hike expectations for October.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that Bitcoin is trying to extend its rally after posting its best third quarter since 2017, but Treasury yields above 5% are making risk assets less attractive to investors.

The outlet cites Delphi Digital, saying Bitcoin rose 43% in the third quarter and added to gains with a third straight weekly advance last week.

Cointelegraph adds that weak US jobs data has narrowed expectations for another Fed hike in October, which could offer some relief for Bitcoin.

Still, Delphi Digital cautioned that the upward move is facing real resistance tied to the Federal Reserve’s September rate hike and surging Treasury yields.

Latest closeBitcoin $85,403.76 ▼1.2%

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