Gold, Bitcoin Squeeze as Bond Yields Test Decade-Old Highs

Market sentiment is being tested as gold has dipped below its three-month uptrend and Bitcoin has pulled back from a nine-month high. The sharp rise in U.S. bond yields, which are testing levels last seen in 2004 and 2007, is putting pressure on these assets.

The key levels to watch on the Treasury-yield charts are 5.30% for the 10-year yield, a level last seen in 2007, and 5.60% for the 30-year yield, last seen in 2004. These levels represent important resistance zones that could help determine whether yields continue higher or experience a significant reversal.

Bitcoin's price is being assessed through Fibonacci retracement levels of its June-September advance, with potential dip-buying zones near 69,000 and yearly lows below 60,000. A close back above 87,000 would redirect attention toward 90,000, 95,000, and 100,000.