Treasury Yields Threaten Bitcoin Third Quarter Rally
Weak US jobs data narrowed expectations for another Federal Reserve rate hike in October, offering Bitcoin relief as investors embrace the debasement trade.
Bitcoin gained 43% in the third quarter as the debasement trade helped offset rising bond yields, while weaker payrolls shifted the Federal Reserve outlook, according to Cointelegraph.
Treasury yields reaching 5% threaten to extend the momentum behind Bitcoin's best quarter since 2017. Weak US jobs data subsequently narrowed expectations for another Federal Reserve rate hike in October, providing some relief to investors.
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Key Facts
- Bitcoin gained 43% in the third quarter.
- Treasury yields reached 5%.
- Weak US jobs data shifted the Federal Reserve outlook and lowered expectations for an October rate hike.
Source: cointelegraph.com
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