Bitcoin Shrugs Off Fed Rate Hike as 10-Year Treasury Yield Breaches 5%
- —Fed hiked rates 25 bps to 3.75–4%; 16 of 19 FOMC members expect at least one more hike this year
- —The 10-year Treasury yield breached 5% twice within days
- —The dollar index rose above 100, its strongest day since June
- —The Bank of Japan raised rates to 1.25%, the highest in 31 years
Why it matters: A sustained 10-year yield above 5% with a strong dollar raises pressure on bitcoin and risk assets, especially via the risk of an unwind in the yen carry trade.
Source: BTC-ECHO