CoinShares: Bond Market May Matter More Than the Fed for Bitcoin as Fund Flows CoolCoinShares said...

CoinShares: Bond Market May Matter More Than the Fed for Bitcoin as Fund Flows CoolCoinShares said on October 8 that digital asset fund inflows have slowed markedly this week after totaling about $11.1 billion since mid-July. Meanwhile, the 10-year U.S. Treasury yield has risen above 5.3% and the 30-year yield to 5.7%, both near multi-decade highs. Following weaker-than-expected September jobs data, the market-implied probability of an October rate hike fell from 71% three weeks ago to 23%. CoinShares argued that the bond market may become a more important driver than Fed policy. If rising long-term yields increasingly reflect concerns over U.S. fiscal sustainability rather than stronger growth, Bitcoin could be viewed more as an alternative to government-issued money. Fund flows have yet to clearly reflect that thesis, making them a key indicator to watch in the coming weeks.

Source: Wu Blockchain