Bitcoin has recently displayed signs of a significant price movement, as the market has started experiencing irregular price fluctuations. Bulls are constantly fighting to gain momentum over the bears and have steadily begun to achieve it as the Bitcoin price is now rising.

Last week, the yield on the 10-year US Treasury raised to 4.88% for the first time since 2007, while the 30-year offering breached 5.05%, also claiming a 16-year peak. Both have backed up recently due to external factors such as increased geopolitical risk.

An increase in the Treasury yield means a falling demand for treasury bonds, which can be a negative point for the market as investors prefer higher risk in the hope of higher rewards.

Moreover, issuers can now increase the cost of borrowing for personal and professional reasons, specifically for long-term loans such as mortgages, as rising bond yields make borrowing more expensive. 

How Will It Impact The Bitcoin Price?

The increased treasury yield is expected to exert significant downward pressure on Bitcoin price. A surge in yield typically signifies market sentiments of an extended Federal Reserve interest rate hike policy, which is considered unfavorable for high-risk investment assets such as cryptocurrencies.

This is also an opportunity for Bitcoin as the next Halving is approaching. BTC is here as a substitute for the traditional payment system, and increasing rate hikes and inflation are diluting the value of money. Hence, it can present itself as an alternative as the supply is limited and cannot be governed by a body.

The market is highly unpredictable as major currencies are struggling to gain stability. Bitcoin is a sign of economic health and resilience by one set of people and a risky move by the other.

In conclusion, the present change in the yield on the 10-year US Treasury is not expected to impact Bitcoin on a significant level, and the price may only experience a minor hiccup, as BTC price is steadily gaining momentum and is preparing itself well for the upcoming Halving.