– A chart has been shared on social media showing a correlation between U.S. 10-year Treasury yields and Bitcoin halving price rallies.
– The chart suggests that Bitcoin halvings have coincided with “relative local lows” in Treasury yields, indicating a relationship between the two.
– However, the author cautions against interpreting this correlation as a direct causal link between yields and Bitcoin’s price.
– The author also argues that the majority of Bitcoin’s supply has already been issued, suggesting that daily issuance is not propping up the asset’s price.
– The article questions the usefulness of the 10-year yield chart in predicting Bitcoin’s price, noting that correlations and trends can be subjective and may not hold true in all cases.
– It highlights that the third Bitcoin halving in May 2020 did not coincide with a significant drop in yields, casting doubt on the correlation.
– The article concludes that there is no compelling evidence to suggest that Bitcoin’s halving directly impacts its price in the subsequent months.
– It emphasizes the need for a more nuanced understanding of the cryptocurrency market, taking into account various factors that influence Bitcoin’s price dynamics.
