Bitcoin (BTC), which fluctuated around $78,000, was the first to open on Wall Street Monday as US bonds yields reached new 20-year highs.
Important points
- Bitcoin reacts when the US Treasury Secretary speaks on bond markets during a media interview.
- Bonds are not safe, according to analysts “ignoring” As new yields on 30-year bonds reach 20-year records, policymakers are forced to make changes.
- BTC’s price analysis shows a hidden, bearish RSI Divergence that is contributing towards the monthly weakness.
Bessent talks bond yields and Bitcoin increases
TradingView’s data shows BTC/USD in a small range. It was also up 1% or so on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
After falling in the US session’s opening, the pair quickly rebounded as US Treasury secretary Scott Bessent hinted that further US bond market interventions were likely. The pair rose quickly after falling at the beginning of the US trading session as Scott Bessent, Secretary of Treasury for America, hinted that there would be further intervention in the bond market. interview with CNBC, Bessent stressed that he had not yet acted to shore up the long end of the yield curve — 10-year and 30-year bonds.
“I haven’t bought anything yet,” “I was not a terrorist,” he said to the network. “fine” With yields rising after the announcement.
In this month’s Treasury announcement, it will be at least doubling the size The debt-buyback operations of the company have increased from $4 billion in September to now total $4 billion. On September, when yields were falling, they reached their highest levels in January 2025.
US 10-year bond one-week yield chart. Source: Cointelegraph/TradingView
On that day, the 30-year yield was 5.269% – six basis points below its previous highs.
“The bond market appears to be completely ignoring the US Treasury,” Trading resource The Kobeissi Letter responded In a comment on X.
US 30-year bond one-day yield chart. Source: Cointelegraph/TradingView
Ray Dalio previously expressed his skepticism about Treasury’s abilities to control bonds even with the new program. He predicted a future US Debt Crisis. named both Bitcoin and gold as potential hedges.
“As general advice, I suggest diversifying well in asset classes and countries that have strong income statements and balance sheets and are not having great internal political and external geopolitical conflicts, underweighting debt assets like bonds, and overweighting gold and a bit of Bitcoin,” In a LinkedIn post, he said.
US stocks, meanwhile, remained red on the day, with both the S&P 500 and Nasdaq Composite Index trading around 0.4% lower as tensions over new US-Iran strikes Markets are filtered.
Bitcoin RSI triggers new bearish alert
BTC/USD’s 50-week exponential Moving Average (EMA) of $77.269 was used as a support before the closing monthly candle on August.
Related: Bitcoin bear market ‘over’ as price metric copies 2023 recovery: CryptoQuant CEO
BTC/USD hourly chart using 50-week EMA. Source: Cointelegraph/TradingView
Cointelegraph previously stated that the level was a critical line for bulls. Month-to-date gains have neared 25% Bitcoins August 2017 performance is the best since 2017.
Rekt capital, a trader and an analyst warned that a bearish divergence was playing out between the price and relative strength index on daily timeframes. Even though bullish RSI signals on the weekly chartHe warned that the most recent daily values pointed out a waning of momentum.
“if the Daily RSI continues to make Lower Highs (blue), that’ll contribute to mounting weakness here,” He told X-followers with an explanation chart.
The daily RSI was 70.7 Monday. This is still within the range. “overbought” territory.
BTC/USD daily chart with RSI. Source: Rekt Capital on X.com
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Source: cointelegraph.com
