BTC market cap and U.S. 10-year real Treasury yield correlation reaches historical high

According to a post by Fidelity Digital Assets (@DigitalAssets) on X, throughout most of BTC’s history, U.S. real interest rates and BTC price movements have operated relatively independently—but now, their relationship has reached an unprecedented level of closeness: the correlation between BTC’s market capitalization and the 10-year U.S. real Treasury yield has risen to its highest recorded level. The firm also noted that on October 14, its monitored BTC momentum signal turned positive, with trend and volatility indicators simultaneously supporting recent price strength; historically, this combination has typically been associated with more sustained upward moves. Fidelity stated it will continue analyzing the drivers behind this shift and monitor whether capital flows can sustain this trend.