Key Takeaways:
Bitcoin price dropped alongside falling Treasury yields, signaling investors’ flight to safer assets.
Strategy’s $4.28B Bitcoin purchases and stock market strength have supported BTC above $90,000.
A true breakout toward $100,000 will require Bitcoin to decouple from equities and stronger liquidity signals.
Bitcoin (BTC) experienced a sharp $2,000 correction to $93,500 on April 28. This price movement closely tracked the decline in US Treasury yields, suggesting that traders were seeking the relative safety of more secure assets.
While Bitcoin traders are moderately satisfied with the 6% gains achieved over the past week, there is ongoing uncertainty as to why BTC has been unable to maintain levels above $95,000.
US 5-year Treasury yield (left) vs Bitcoin/USD, 15 min. Source: TradingView / Cointelegraph
The abrupt correction in Bitcoin’s price after reaching $95,500 mirrored the intraday performance of US Treasury yields. A decrease in yields indicates that investors are willing to accept lower