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Bitcoin rose 84% since Jan 2024 as Treasury yields increased

CryptoSlate found Bitcoin returns have only weak day to day ties to changes in nominal and real Treasury yields and the dollar index.

Reported · Written up by our desk · Market Structure

Bitcoin traded below $84,000 on Oct. 7 as US Treasury yields hovered near 5.3%, offering investors an interest bearing alternative to riskier assets, according to CryptoSlate.

CryptoSlate reported that Bitcoin gained 84.2% from the Jan. 10, 2024 pre-spot Bitcoin ETF baseline through Oct. 5, 2026, even while the 10-year nominal Treasury yield rose 127 basis points and the real yield rose 113 basis points over the same period.

Using 2,435 matched daily observations dating back to January 2017, CryptoSlate found weak linear relationships between Bitcoin returns and changes in nominal and real Treasury yields, as well as dollar index returns, and said those daily relationships remained weak in the post-ETF trading period.

CryptoSlate noted the ten-year nominal par yield was 5.27% on Oct. 6, down from 5.31% a day earlier, while Bitcoin was about $83,086 at 14:25 UTC on Oct. 7.

Latest closeBitcoin $82,884.81 ▼3.1%|Dollar index 102.19 ▲0.3%

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