Crypto fund inflows are slowing after approximately $11.1 billion was collected since mid-July. The US 10-year bond yield exceeds 5.3% and the 30-year yield has reached 5.7%, levels unseen in over twenty years, despite reduced expectations for Fed rate hikes, with the probability of an October increase falling from 71% to 23%. CoinShares notes that rising long-term rates could pressure Bitcoin through increased competition from bonds, but could also attract investors seeking alternatives to state-issued currencies if driven by US debt concerns. This divergence between monetary policy and bond yields creates a paradox for bitcoin, with demand remaining uncertain.
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