Bitcoin’s Rally Faces Resistance Amid High Treasury Yields
- Bitcoin gained 43% in Q3, marking its best quarter since 2017.
- Treasury yields remain above 5%, posing challenges for risk assets like Bitcoin.
- OKX raised an undisclosed amount at a valuation of $25 billion, extending its funding round.
- Strategy spent $176.3 million on STRC buybacks, over six times more than the $28.7 million on Bitcoin purchases.
- Crypto ownership among affluent investors is highest in the US, UK, Germany, and Switzerland at around 70%.
Despite Bitcoin’s substantial gains, high Treasury yields are creating resistance for further price increases as investors weigh alternatives in a tougher market environment.
Currently, Bitcoin’s price fluctuates below $83,000 after briefly surpassing $87,000 last week, highlighting the impact of external economic factors on cryptocurrency performance.
