Bitcoin is rallying alongside tech stocks as the bond market has a major reversal. Today’s rally that took prices to a three-month high is not about spot Bitcoin ETF optimism but about a significant reversal in the dollar and 10-year Treasury yield. Bitcoin could continue to rally if investors continue expect risk appetite prefers risky assets over Treasuries. The key for Bitcoin won’t just be positive ETF news but will require a peak in rates to be confidently priced in. There is still a risk that investors might prefer stocks versus cryptos. As long as the Fed is done with this hiking cycle and soft landing hopes ... (full story)