CoinShares: Bond Market May Matter More Than the Fed for Bitcoin as Fund Flows Cool CoinShares said on October 8 that digital asset fund in…
CoinShares: Bond Market May Matter More Than the Fed for Bitcoin as Fund Flows Cool
CoinShares said on October 8 that digital asset fund inflows have slowed markedly this week after totaling about $11.1 billion since mid‑July. Meanwhile, the 10‑year U.S. Treasury yield has risen above 5.3 % and the 30‑year yield to 5.7 %, both near multi‑decade highs. Following weaker‑than‑expected September jobs data, the market‑implied probability of an October rate hike fell from 71 % three weeks ago to 23 %. CoinShares argued that the bond market may become a more important driver than Fed policy. If rising long‑term yields increasingly reflect concerns over U.S. fiscal sustainability rather than stronger growth, Bitcoin could be viewed more as an alternative to government‑issued money. Fund flows have yet to clearly reflect that thesis, making them a key indicator to watch in the coming weeks.