The dissociation of Bitcoin from Treasury bond yields indicates a structural shift in the market, according to analysts. "AI Summary"
Key Takeaways: Historically, Bitcoin has decreased during periods of rising U.S. Treasury yields and the strength of the U.S. dollar index (DXY).
In the current cycle, BTC is rising despite record yields, indicating a possible structural change. Analysts say that Bitcoin is increasingly behaving like a macro store of value rather than just a risk asset.
According to PANews, cryptocurrency analyst Darkfost observes that Bitcoin has begun to decouple from U.S. Treasury yields, a dynamic that may reflect a structural change in its macroeconomic role.
Traditionally, rising yields and a strengthening of the U.S. dollar index (DXY) would trigger capital outflows from risk assets, including cryptocurrencies. Bitcoin often fell under such conditions, aligning with a broader sentiment of risk aversion.
However, in the current cycle, Bitcoin has risen despite record highs in Treasury yields, with the rally accelerating as the dollar weakens.
From Risk Asset to Macro Hedge?
“This unusual behavior suggests that Bitcoin is starting to act more like a store of value,” said Darkfost. “It could signal a redefinition in how it responds to traditional macroeconomic forces.”
The shift comes as expectations for Federal Reserve rate cuts and declining dollar strength continue to support risk appetite; however, Bitcoin's resilience during tighter conditions points to growing investor confidence in its structural long-term role in global portfolios.
