Bitcoin Breaks From Macro Norms as US Bond Yields Climb Higher

• Despite historic bond yield levels, investors are increasingly viewing Bitcoin as a store of value, shifting its traditional market behavior.
• High sell-side pressure on Binance may indicate panic selling exhaustion, potentially setting the stage for a bullish reversal.

Bitcoin price is moving in an unusual direction. Amid high US bond yields, BTC is continuing its uptrend. Usually, such conditions would put pressure on risky assets like crypto. But now? The result is the opposite.

Investors Start Seeing Bitcoin as a Crisis-Resistant Safe Haven

According to on-chain analyst Darkfost from CryptoQuant, the old pattern between Bitcoin and macroeconomic factors is changing. Historically, when the DXY (US Dollar Index) and bond yields rise together, investors tend to avoid risky assets. That means Bitcoin often experiences corrections.

However, when these two indicators lose steam, interest in assets like BTC grows again. This happens because market players are starting to anticipate policy easing from the Fed.

Now, what’s interesting is that currently the yield for 5, 10, and 30-year bonds is at its highest point in Bitcoin’s history. But instead of sluggish, BTC continues to climb—especially when the DXY starts to weaken. This shows a shift in investors’ perspective on Bitcoin.

Darkfost said that Bitcoin is now starting to be positioned as a store of value. So, instead of being considered a speculative asset, BTC is seen as “digital gold” that can hold its value when the world is shaking. The logic is similar to people who keep their money in land or property even though deposit interest rates are high. Not because the results are greater, but because they are considered more resistant to crises.

Bulls Still in Control as Price Eyes Breakout Levels

On the other hand, from a technical perspective, analyst Lingrid said that Bitcoin is consolidating just above the ascending support line. The direction of its movement is in a rising wedge pattern, with prices playing around below the $112,000 area.

According to the analyst, if it is able to break through the minor trend line, the movement could advance to the $120,000 range or more. The technical structure still shows that bulls have not lost control.

Furthermore, CNF has highlighted interesting data from the Binance exchange: Bitcoin’s Net Taker Volume fell to -$197 million. This means that selling pressure is very high, mostly carried out by aggressive market players. But strangely enough, this could be good news. One analyst notes that when extreme selling volume occurs, it often signals a saturation point for panic sellers. In a sense, the “fearful sellers” are running out of ammunition.

Not only that, but this data can be likened to a market condition when people start selling for fear of missing out on a price drop, only to see the selling pressure run out—and the price rebounds.

So, even as yields are high and the bond market looks challenging, Bitcoin is still moving in the opposite direction. We may be witnessing a change in Bitcoin’s position in the global financial landscape.

As of press time, BTC is trading at about $105,102.31, slightly up 0.37% over the last 24 hours and 2.82% over the last 30 days.

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