The yield on the US 30-year Treasury bond reaches its highest level since 2007, which may put pressure on risk assets such as bitcoin.
According to ChainCatcher citing Kobeissi Letter data, the yield on the latest US 30-year Treasury bond auction has risen to 5.06%, reaching its highest level since 2007 and pushing long-term US Treasury yields back above 5%. In comparison, at the beginning of 2022, the yield on US Treasuries of the same term was around 2%. Analysts believe that higher long-term yields mean the risk-free rate is rising, which will increase the discount rate for risky assets and put structural pressure on high-risk assets such as Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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