TechFlow reports, according to SoSo Value data, the yield on U.S. 10-year Treasury bonds and Bitcoin prices have shown a significant negative correlation of -90.61% over the past six months.
Yesterday, the yield on U.S. 10-year Treasury notes surged to 4.3%, with U.S. equities broadly adjusting downward, and Bitcoin price dropped more than 5% in 24 hours.
In addition, U.S. meme stocks continued to sharply correct, while the cryptocurrency Meme sector fell over 12% in 24 hours, leading losses across all crypto sectors, whereas the SocialFi sector declined only 4.58% over the same period.
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