Kryptodata

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Are Bitcoin halvings or US Treasurys responsible for BTC price rallies?

Are Bitcoin halvings or US Treasurys responsible for BTC price rallies?

– A chart has been shared on social media that suggests a close relationship between U.S. 10-year Treasurys and Bitcoin halving price rallies.

– The chart argues that Bitcoin halvings have coincided with “relative local lows” in the 10-year Treasury yield.

– However, it is important to note that the correlation should not be seen as a direct causal link between yields and BTC price.

– The author also argues that the majority of Bitcoin’s supply has already been issued, indicating that daily issuance is unlikely to be propping up the asset’s price.

– It is essential to recognize that human perception is naturally inclined to spot correlations and trends, whether real or imaginary.

– The chart’s findings raise interesting questions about the macroeconomic factors at play during Bitcoin price rallies.

– It is concluded that charts can be misleading when analyzing extended time periods, and a more nuanced understanding of the cryptocurrency market is needed.

– This article is for general information purposes and should not be taken as legal or investment advice.

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