Opinion: Bitcoin is less sensitive to changes in U.S. Treasury yields than gold, potentially offering a stronger "hard asset" advantage.

BlockBeats News, September 7 - Analysis indicates that amid fiscal concerns pushing up global bond yields, the correlation between Bitcoin and gold price movements continues to rise, with the 90-day return correlation coefficient between the two currently reaching 0.59, the highest level since 2020.

However, in terms of sensitivity to changes in U.S. 10-year Treasury yields, Bitcoin demonstrates stronger independence. Data shows that the 90-day correlation coefficient between BTC and U.S. 10-year Treasury yields is only -0.17, while that between gold and the same yield stands at -0.41, implying that rising bond yields exert a relatively more pronounced suppressive effect on gold.

This indicates that Bitcoin has a lower degree of linkage with traditional bond markets and may possess stronger decoupling capabilities in adverse traditional financial market conditions such as rising yields. Nevertheless, changes in correlation do not imply that Bitcoin can completely evade macroeconomic risks.