U.S. Treasury yields are reaching 5.19% on the 30-year segment as the Treasury prepares to sell $125 billion in securities over three days (Aug. 11-13), of which only $28.7 billion represents new cash to absorb from investors. July inflation data (CPI on Aug. 12, PPI on Aug. 13) will be released four and a half hours before the corresponding 10-year and 30-year bond auctions, in a sequence that will test bond demand and its potential impact on Bitcoin. The crypto market is currently valued at $2.22 trillion with Bitcoin dominance at 58.90%. Research from the Federal Reserve Bank of New York shows that Bitcoin is broadly disconnected from monetary and macro news in its history, suggesting that Treasury auctions should be read as a test of conditions, not as an automatic sell signal for Bitcoin.
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