Bitcoin’s Correlation With 10-Year Treasury Real Yields Tops 0.6

Bitcoin (BTC) market capitalization and the 10-year U.S. Treasury real yield had a record correlation above 0.6 in 2026, showing a stronger relationship as borrowing costs and federal debt remained elevated. The measures had a limited relationship historically, then moved into positive correlation in recent years. A real yield accounts for expected inflation; the yield on 10-year Treasury Inflation-Protected Securities (TIPS) is one measure. Correlation ranges from -1 to 1, with higher positive values indicating that two measures tend to move in the same direction. Here, the comparison is between Bitcoin’s market capitalization and real yields, not daily Bitcoin returns, and it does not establish that one caused changes in the other. The correlation measure and its limits are relevant when comparing it with other rate measures. From Aug.

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