Bloomberg analyst: Gold and Bitcoin rallies face pressure from high US Treasury yields

BlockBeats news, September 17 - Bloomberg commodity strategist Mike McGlone posted that gold, Bitcoin, and the US 10-year Treasury yield are currently facing key resistance levels at $4,500 per ounce, $80,000, and 5%, respectively.

McGlone pointed out that gold and crypto assets may have already peaked after previously breaking through $5,000 and $100,000. Both have recently rebounded from important support levels near $4,000 for gold and $60,000 for BTC, but currently, non-yielding, speculative, and highly volatile assets are under pressure as the US 10-year Treasury yield rises to 5%.