Bitcoin

Global yields have been climbing, often a headwind for risk assets, but if driven by growth rather than hawkish central banks, equities can tolerate them. This matters for crypto because Bitcoin has increasingly traded as a high-beta risk asset, correlated with Nasdaq and sensitive to real yields. If equities hold up, crypto's current greed-driven rally may extend, but if yields spike further, the narrative could flip quickly.

Homin Lee, senior macro strategist at Lombard Odier, stated that equity valuations can handle the ongoing rise in global yields, arguing higher yields reflect solid economic fundamentals rather than aggressive monetary tightening.