Fidelity Digital Assets finds Bitcoin now moving with US Treasury real rates

A new study says the correlation between Bitcoin and 10-year real yields has topped a record 0.6 as US fiscal worries mount Bitcoin and US government bonds were never supposed to be friends. One is a decentralized digital asset with no issuer. The other is debt backed by the US government. Yet a new study from Fidelity Digital Assets says the two are now moving in step, and the reason has a lot to do with Washington’s balance sheet. In research published on October 15, 2026, the firm found that the correlation between Bitcoin’s market capitalization and the real rate on 10-year US Treasury bonds has climbed above 0.6. That is a record, and it marks a sharp break from how the two assets usually behave around each other.

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