Treasury yields at 5% threaten extending Bitcoin’s best quarter since 2017

Recent weak US jobs data has narrowed market expectations for another Federal Reserve interest rate hike in October. This shift is providing a sense of relief and positive momentum for Bitcoin. Investors are increasingly turning to Bitcoin as a hedge, indicating a growing embrace of what is being termed the 'debasement trade,' where assets like Bitcoin are seen as protection against potential currency devaluation or economic instability.