A study from Fidelity Digital Assets reveals that the correlation between Bitcoin and the 10-year US Treasury real rate has exceeded 0.6, a historic record. Bitcoin gained nearly 30% over the two months leading up to the report’s release, while 10-year Treasury rates rose more than 10%. US federal debt has now passed $40 trillion and interest payments have become the second-largest federal budget expense, overtaking Medicare. Chris Kuiper, Fidelity’s Vice President of Research, linked this shift to growing investor concerns about fiscal deficits and rising US public debt levels.
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