Bitcoin’s $80k test should be decided by the bond market this week

Bitcoin's potential move towards $80,000 is heavily influenced by the bond market, particularly the 10-year Treasury yield, which has been trading in a tight range. This week's dense macroeconomic calendar, including FOMC meetings and key economic data releases like GDP and PCE deflator, could cause significant movement in Treasuries. The direction of yields will determine whether Bitcoin's current rally, supported by substantial institutional inflows into crypto investment products and ETFs, continues or falters. If yields fall, it would create a favorable macro environment for Bitcoin to break through the $80,100 resistance. Conversely, if yields rise, tightening financial conditions could lead to profit-taking and a potential reversal, mirroring a similar scenario in March where macro factors overshadowed strong crypto demand.

(Source：CryptoSlate)