XAU hits a new all-time high, 10-year US Treasury yields rise slightly, prices fall,
Market sentiment gradually returns to normal rate cut expectations - the dollar is worried about depreciation and flows into gold, while the recent decline in US Treasury yields has reduced demand for US Treasury bonds, resulting in a slight increase in short-term US Treasury yields.
Five days before the interest rate meeting, the market seems to have temporarily returned to its normal trend before the rate cut, but the short-term return to normal sentiment is not friendly to the risk market. Although it cannot be said that short-term funds are hedging, subconsciously, traders still begin to pay attention to the market and reduce their current enthusiasm for buying.
Recently, the mutual flow of funds between XAU and US Treasury bonds is relatively obvious, and today's trading has also entered the second half.
The most important thing in the early morning is that US stocks can close higher, and #BTC☀ can test resistance again, otherwise this shock and decline sentiment may continue until the 18th of next week.
Currently, the CME Bitcoin futures price maintains a negative premium of 270 points to the spot price. The long position in the futures market has obviously declined. Taking advantage of the poor market liquidity, will the game in the derivatives market try to push up the BTC spot price in the short term?
