US Debt Pressure May Drive Bitcoin Up in Q4
According to Cointelegraph, the pressure in the bond market has historically coincided with Bitcoin's cycle bottoms, which may indicate new buying opportunities. US debt has surpassed $37 trillion, and the 10-year yield is rising, which could be positive for Bitcoin in the fourth quarter.
Joao Wedson, founder of Alphractal, points out that the ICE BofA Option-Adjusted Spread (OAS) is a reliable indicator for observing market pressure. A surge in OAS typically marks a local bottom for Bitcoin. Currently, OAS is relatively calm, but if credit spreads widen in the next quarter, it may pave the way for Bitcoin's accumulation phase. Rising US Treasury yields and increasing borrowing costs may benefit Bitcoin.
Strategy purchased 430 Bitcoins on August 17, bringing their total holdings to 629,376 coins.
