Peter Schiff: rising US Treasury yields will hit bitcoin too
- —Schiff: the bond bull market ended in 2020, 10-year yields could go above 6%
- —The current yield of about 5% is an intermediate step, not a ceiling
- —Rising rates will hit stocks and then bitcoin and the crypto market
- —Schiff considers a Fed rate hike of 0.25-0.5 percentage points too small and too late
Why it matters: The argument that rising Treasury yields pressure risk assets reinforces the bearish backdrop for bitcoin ahead of the Fed meeting.
Source: TokenPost