$ As Bitcoin Approaches ‘Golden Cross’, Fears of Rising Treasury Yields Look OverblownThe rise in Treasury yields is in line with previous non-recessionary Fed rate cuts and is not a negative for risk assets, according to TS Lombard.
Fears of rising US Treasury yields and a perceived policy error by the Fed may be overblown, according to TS Lombard. BTC’s daily chart shows an approaching golden cross, signaling a bullish outlook.
Bitcoin’s (BTC) latest failure to break above $70,000 has analysts scrambling for an explanation, with some fearing that the continued rise in US Treasury yields could lead to an extended slide. However, the fears may be overblown and the path of least resistance for Bitcoin is still up, which is consistent with the upcoming coveted “golden cross” price pattern.
