CoinShares: Slowing inflows reflect uncertainty, bond market may matter more than the Fed

PANews reported on October 9 that CoinShares Head of Research James Butterfill said that after digital asset funds saw cumulative inflows of $11.1 billion since mid-July, the recent slowdown in inflows reflects uncertainty rather than weakening fundamentals. The U.S. 10-year Treasury yield has risen above 5.3% and the 30-year to 5.7%, both more than two-decade highs, while the probability of a Fed rate hike in October has fallen from 71% to 23%. He believes the bond market may matter more than the Fed, and that Bitcoin's breakout needs to be driven by fiscal rather than interest-rate logic.