Rising Treasury Yields Pressure Bitcoin Price Amid Possible Rate Hike

The Bitcoin price has come under pressure due to rising U.S. Treasury yields, which are causing investors to weigh in on the effects of a possible rate hike by the Federal Reserve.

Total crypto market capitalization now sits near $2.17 trillion, but this figure has slipped as capital continues to leave digital assets.

Crypto analyst Benjamin Cowen expects the U.S. 10-year Treasury yield to reclaim the 5% mark, which he believes could lead to a rate hike and tighter monetary policy.