Bitcoin is predicted to reach USD 150,000 if Donald Trump wins the US presidential election

The cryptocurrency with the largest market capitalization, Bitcoin (BTC) continues to experience heavy price declines, indicating a temporary pause in the bull market.

However, an analyst expressed concern that recent macroeconomic developments in the United States could hinder Bitcoin's movement to higher levels.

“Bitcoin is still strong, but macro factors are threatening,” said crypto trader and market observer, Chang in an interview, quoted from Coindesk, Monday (3/6/2024).

“Bond yields are very volatile because demand is weak compared to US Treasury issuance. If there is a negative impact on Bitcoin, it is most likely due to yields and the dollar index,” he explained.

US government bond yields rose, mainly due to the country's persistent debt concerns, a flood of bond supply, and a rise in Japanese government bond yields.

The benchmark 10-year Treasury bond yield has risen 24 basis points to 4.55% in two weeks, according to data from charting platform TradingView.

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