QCP: Rising US yields weigh on Bitcoin; tonight's CPI may determine short-term direction
Source：
www.qcpgroup.com
In its latest market commentary, QCP noted that Bitcoin came under pressure ahead of tonight's US CPI data release, with prices retreating from last week's $82,000 peak to around $77,000, marking weekly and monthly declines of approximately 2%. The report highlighted that US Treasury intervention on long-end yields fell short of market expectations, with the 10-year US Treasury yield approaching 5%, weakening the prior narrative that Bitcoin was supported by a "Treasury liquidity backstop."
