Rick Bensignor, founder of Bensignor Investment Strategies, told CNBC that the yield on the 10-year U.S. Treasury could climb to 6.07%, up from about 4.78% at present. He said the yield remains in a multi-year uptrend and added that even 5.6% would only represent a minimum upside target. The call is not framed as a forecast for next week, but it points to a rate environment Bitcoin has never traded through before. According to the report, rising yields tend to pull capital toward safer, income-producing assets and away from speculative trades. That shift could put pressure on Bitcoin’s narrative as a hedge against currency debasement. As Treasury yields move toward levels the crypto market has not previously seen alongside Bitcoin, traders may soon get a clearer read on whether the asset behaves more like digital gold or like another rate-sensitive risk asset.
Techub News reported that Rick Bensignor, founder of Bensignor Investment Strategies, told CNBC that the yield on the 10-year U.S. Treasury could rise to 6.07%. The yield is currently around 4.78%. He also said that even a move to 5.6% would only be a minimum upside target.
The 10-year Treasury yield may move much higher
Bensignor said the 10-year Treasury yield is still in a multi-year uptrend. His 6.07% target is not a call for next week, but he said the benchmark is climbing toward levels Bitcoin has never seen during its trading history.
Bitcoin faces an interest-rate backdrop it has never traded in
According to the report, Bitcoin has never traded in an environment with Treasury yields this high. Rising yields usually draw capital into safer assets that generate income, while pulling money away from speculative assets.
That could pressure Bitcoin’s narrative as a hedge against currency debasement. Bensignor said traders will soon find out whether Bitcoin behaves more like digital gold or like another risk asset that is sensitive to interest rates.
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