Fed Preview: BTC Steady Above $91K, Treasury Yields Add Note of Caution

Bitcoin (BTC) traded over 1.5% higher near $91,800 on Monday, seemingly anticipating a 25 basis point interest rate cut by the Federal Reserve this week, which would bring the target rate to 3.5%-3.75%. Typically, rate cuts inject liquidity and boost risk assets like BTC. However, a conflicting signal comes from rising Treasury yields; the 10-year yield hit 4.15%, suggesting bond traders are pricing in a "hawkish cut" where Fed Chair Jerome Powell signals a pause on further easing in 2026. Analysts note that while labor and inflation data support lower rates, the market's focus is on Powell's forward guidance. Furthermore, global factors, such as potential Japanese government bond yield hikes, are influencing market sentiment and Treasury selling.

(Source：CoinDesk)