The U.S. Dollar's strength and high Treasury yields are giving crypto markets a tough time. With the Dollar Index at 108.59 and 10-year Treasury yield peaking, risk assets like cryptocurrencies face pressure. High yields and a strong dollar limit crypto's momentum and broader financial markets.
Standard Chartered predicts Bitcoin may rally to $73,800 as the US election approaches, influenced by rising Treasury yields, increasing interest in Bitcoin ETFs, and Trump's improving election odds.
Bitcoin price is poised for a bull run as Treasury yields drop and market sentiment shifts favorably, driven by declining stock indices and significant reductions in Treasury yields.
The Indian stock market is poised for a flat opening, influenced by mixed signals from global markets, including Asian and US stock performance, alongside a strengthening US dollar and a rise in treasury yields.
Markus Thielen of 10x Research, who predicted Bitcoin's rally to $70K, has now turned bearish and de-risked his portfolio due to increasing Treasury yields.
Bitcoin's price has decreased to $66K, influenced by rising Treasury yields, which are attracting investor interest away from cryptocurrencies. Prediction markets suggest no federal rate cuts are expected anytime soon.
Increased crypto adoption and high treasury yields could push tokenized US Treasurys toward a $3 billion market cap by the end of 2024.
