Rising U.S. real yields, especially on 10-year TIPS, pose a headwind to zero-yielding risk assets like bitcoin. Bitcoin demand relative to supply has plunged to 1.3 from over 5. Rising U.S. real yields, especially on 10-year TIPS, pose a headwind to zero-yielding risk assets like bitcoin. Markets expect these tighter financial conditions to persist. Bitcoin BTC $ 67,451.06 has jumped 2% this week, but shaky demand-supply dynamics and rising "real" interest rates could limit the rally. Last week…
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