Fidelity says BTC correlation with U.S. 10-year real yields tops 0.6

Bitcoin’s correlation with real yields on 10-year U.S. Treasuries has risen above 0.6, a record high, an unusual alignment, according to Crypto Briefing, citing Fidelity Digital Assets.

Fidelity Digital Assets said the correlation had historically remained negative or near zero. More recently, however, Bitcoin and U.S. Treasuries have been moving in step as U.S. fiscal instability has intensified, reflecting investor sentiment around fiscal deficits and rapidly rising debt. Fidelity added that mounting pressure on U.S. public finances is driving more investors toward Bitcoin.

Source: Coinness