First Mover Americas: Bitcoin Drops to 3-Month Low as Crypto Traders Turn to Fed

is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.By Omkar Godbole

The U.S. inflation-indexed bond yield has surged by 100 basis points since early August, causing renewed jitters in risky assets, including cryptocurrencies. And to the dismay of bitcoin bulls, the so-called real yield is likely to rise even further in the coming months. On Friday, Goldman Sachs said that yields on 10-year U.S. Treasury inflation-protected securities , which are adjusted periodically to compensate for increases in the consumer price index, could rise to 1.25% by the year end and eventually peak somewhere between 1.25% and 1.5%.

The real yield stood at 1.02% at press time, the highest since November 2018, according to data from charting platform TradingView. Bitcoin has historically moved in the opposite direction to the real yield. The 90-day correlation coefficient between the two reached a

Source: Digital Coin News (digitalcoinnews.net)

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