Bitcoin Soars Despite Rising Treasury Yields, What’s Next?

• Bitcoin’s hash rate recently achieved a milestone, surpassing 400 trillion hashes per second (Th/s).
• US 10Y treasury yields have been on the rise, leading to a flat trend in Bitcoin prices.
• Inflation pressures are increasing, signalled by Cleveland Fed nowcasts and could lead to market upheaval.

Bitcoin Hash Rate Hits All-Time High

Bitcoin’s hash rate just hit an all-time high of 400 trillion hashes per second (Th/s), representing the culmination of a trend of surging hash rates. This record achievement is indicative of an end to miner capitulation and strength in the network’s security and processing capability.

US Treasury Yields Surge

The US 10Y treasury yield has been on the rise, rising to its highest close since June 2008. As a result, Bitcoin prices have remained relatively flat as investors fear potential price upheaval due to the rising yields.

Inflation Pressures Mount

Cleveland Fed nowcasts signal escalating inflation pressures which could lead to further market upheaval for crypto assets such as Bitcoin. Investors are bracing for impact as they watch these macroeconomic developments closely.

Short-Term Investors Capitulate

The recent surge in treasury yields has led some short-term investors to capitulate under market pressures which, combined with miners returning from their break, is helping contribute to the current all-time high in hash rate that the network is experiencing.

Conclusion

Recent events have showcased both strength and risk within Bitcoin’s ecosystem; while its hash rate reaches record highs, long term investor sentiment remains wary amid signs of macroeconomic uncertainty caused by rising treasury yields and inflationary pressures. The crypto space continues to monitor these developments closely as we enter into potentially tumultuous times ahead.