TechFlow news, October 23 — According to CoinDesk, Bitcoin prices retreated after approaching the $70,000 mark, sparking market concerns over rising U.S. Treasury yields. However, macroeconomic research firm TS Lombard suggests these concerns may be overstated.
Dario Perkins, Managing Director at TS Lombard, noted that the Federal Reserve currently views monetary policy as still restrictive and aims for gradual rate cuts. He emphasized that the recent rise in Treasury yields aligns with past instances of "rate cuts without recession," and should not be seen as detrimental to risk assets.
On the technical front, Bitcoin’s daily chart indicates an imminent golden cross formation, signaling a bullish outlook. A golden cross occurs when the short-term moving average (50-day MA) crosses above the long-term moving average (200-day MA), typically regarded as a strong upward signal. Historical data shows that in previous occurrences, Bitcoin has delivered triple-digit percentage returns within a year following the golden cross.
