The post How U.S. Treasury Trends Could Shape Bitcoin’s Upcoming Chapter? appeared first on Coinpedia Fintech News
According to BofA’s Global Research, the U.S. is experiencing the “greatest bond bear market of all time,” as the peak-to-trough loss in 30-year yields has hit a staggering 50%. The sell-off in the U.S. Treasuries has pushed bond prices to a significant discount relative to their 200-day simple moving average, with yields soaring to multi-year highs.
Historically, an oversold Treasury market has been a precursor to substantial volatility in other financial markets, including cryptocurrencies. Bank of America’s analysts noted previous instances such as the October 1987 crash, the May 1994 Tequila crisis, and even the March 2021 crypto pop.
Bitcoin in the Crosshairs
The recent oversold conditions in the bond market mildly resemble the environment in early 2021. Following that period, Bitcoin catapulted to record highs above $60,000, only to nosedive back to $30,000
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