Concerns about rising U.S. Treasury yields and potential policy mistakes by the Federal Reserve may be exaggerated, according to TS Lombard. The recent failure of Bitcoin to surpass $70,000 has led to worries that rising Treasury yields could cause a further drop in the cryptocurrency. However, TS Lombard argues that these concerns are overblown and that the path of least resistance for Bitcoin remains on the higher side. The firm points to the upcoming "golden cross" pattern on BTC's chart as a bullish indicator. TS Lombard disagrees with those who see the rise in yields as a sign of a policy mistake, stating that it is consistent with past non-recessionary rate cuts. The firm argues that the recent rate cut is not necessarily a mistake and that the Fed can continue to cut rates even if the economy remains resilient. Additionally, TS Lombard notes that gold, a traditional safe haven asset with zero yield, has been setting record highs despite rising yields, which could be a bullish signal for Bitcoin.



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