CoinDesk analyzed that even if the US 10-year Treasury yield rises to 6%, if the cause is concerns over fiscal deficits and government debt, it is not necessarily a negative for BTC. Markus Thielen, founder of 10x Research, predicted, "If Treasury yields rise due to the Fed's interest rate hikes, it puts pressure on BTC, but it's different when yields rise due to fiscal instability. The 10-year yield could rise to 6% within the next few months." In this regard, the media explained, "A rise in interest rates due to fiscal instability could actually be favorable for alternative assets like BTC. Indeed, in 2022, BTC fell by 64% amidst the Fed's aggressive tightening, but since late 2023, BTC has approximately doubled while the 10-year yield rose by 1.35 percentage points. However, if the Fed embarks on aggressive interest rate hikes again, downward pressure similar to 2022 could emerge."
