Analysis: Decoupling of U.S. Treasury Yields and USD Exchange Rates May Shift Forex Market Logic and Drive Up Bitcoin Safe-Haven Demand

TechFlow reports, on September 3, according to CoinDesk, as the US 10-year Treasury yield climbed 58 basis points year-to-date to 4.81%, the US Dollar Index merely rose 0.9% to 99.22, suggesting that the traditional "higher yields, stronger dollar" logic is breaking down. Japanese government bond yields surged 90 basis points this year, yet the yen fell to a 40-year low, while Germany's 10-year yield rose 45 basis points over the same period, with the euro also failing to show significant strength. Analysts note that the market may be starting to interpret rising yields as signals of fiscal pressure rather than fiscal strength. This logic shift poses a potential bullish case for Bitcoin—amid expectations of government debt monetization and currency depreciation, finite-supply hard assets like Bitcoin and gold may see an inflow of safe-haven funds.