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Federal ReserveCryptocurrency Market NewsMacro
Sep 7, 2026
2min read
byDarryn Pollock
forBeInCrypto
<img src="https://xpertsstudio.com/wp-content/uploads/2026/09/image_14-3.png" alt="The Last Time Treasury Yields Hit 6%, Bitcoin Didn’t Exist — What Happens If They Get There Again?” loading=”lazy”>
Veteran strategist Rick Bensignor warned US 10-year Treasury yields could climb toward 6.07% from around 4.78%, a level last seen in April 2000 before Bitcoin existed. Higher yields would likely draw capital to safer income assets and directly test Bitcoin’s debasement trade—US federal debt tops $40 trillion while BTC trades near $80,138 (about 37% below its all-time high)—posing downside pressure on crypto, DeFi funding and adoption rather than acting as a bullish catalyst.
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In Brief
- Rick Bensignor sees 10-year Treasury yields eventually reaching 6.07%.
- That level hasn’t been seen since before Bitcoin existed.
- Higher yields could test Bitcoin’s debasement trade narrative directly.
Bitcoin didn’t exist the last time the US 10-year Treasury yield traded near 6%; that was April, 2000
That was in 2000, roughly eight years before Satoshi Nakamoto published the Bitcoin white paper. Now, one veteran market strategist expects rates to get there again.
Yield Could Climb Toward 6.07%
Rick Bensignor, the founder of Bensignor Investment Strategies, told CNBC’s Closing Bell Overtimethat the 10-year yield could climb toward 6.07%.
That target is up from around 4.78% today. He pointed to a multi-year uptrend line. A 200-week moving average also flagged the recent low near 4%.
Bensignor says the historical range is wide. The 10-year peaked at 15.8% in the early 1980s. It bottomed near 40 basis points at its record low.
That makes 8.11% the halfway point. He doesn’t expect a return to that midpoint. But he says even 5.6% would mark a minimum upside target. Bensignor’s own first mortgage exceeded 7% back in 1987.
He argues today’s borrowers underestimate how high rates can climb.
Yield has been trending strongly upwards this year. Image
What Higher Yields Mean for Bitcoin
Bitcoin has never traded through a Treasury market like this. Rising yields typically pull capital toward safer, income-generating assets. They pull money away from speculative ones. That pressures Bitcoin’s debasement trade narrative. The narrative ties BTC’s price to concerns about US debt.
That narrative already faces scrutiny. US federal debt has passed $40 trillion. Yet Bitcoin trades near $80,138, roughly 37% below its record high. If yields grind higher while Bitcoin stays range-bound, the gap could widen. That would deepen the disconnect between debt fears and BTC’s price.
The counterargument is that yields can rise for different reasons. Inflation or fiscal stress could push yields higher without denting Bitcoin’s scarcity pitch. Resilient growth could push yields higher too, while pulling liquidity away from risk assets. Recent bond market turmoil shows how quickly yield spikes can spill into other markets.
Bensignor’s target isn’t a forecast for next week. But the 10-year is climbing toward territory Bitcoin has never operated in. Traders will soon find out whether BTC behaves like digital gold or another rate-sensitive risk asset.
Source: cryptorank.io