Treasury yields at 5% threaten extending Bitcoin’s best quarter since 2017

Weak US jobs data has narrowed expectations for another Fed hike in October, offering Bitcoin some relief as investors continue to embrace the debasement trade. Bitcoin (BTC) is coming off its best third quarter since 2017, but extending the rally may prove more difficult as Treasury yields above 5% offer investors an increasingly attractive alternative to risk assets, according to Delphi Digital. “When a government bond pays over 5% risk-free, every risky asset has to work harder to deserve the money,” Delphi wrote.

First reported by Cointelegraph. This page is a short excerpt; the full text is theirs.