tl;dr there is no strong fundamental reason for bond yields to go up, bitcoin will rally
As of publishing,
US10 bond yields: 1.47% US inflation: 1.40%
Reasons for rising bond yields/inflation
Re-opening U.S. economy via easing COVID-19 lockdowns would stimulate consumer spending, therefore inflation should go up
Because bonds have been taking a nose dive
Speculators dumping bonds as they are now perceived as risk > gain
Reasons against rising bond yields/inflation:
A low rate world is beneficial towards economic stimulus, encouraging consumers to take on loans, or spend more to help businesses
The current 2021 U.S. Administration will be airdropping $1400 tokens -- correction, $1400 USD. Would you assume this would help the economy? I assume not. Take a look at fred.stlouisfed.org/series/PSAVERT. This shows the % of funds that the average person spends towards savings or capital markets (stocks). I don't see much local economic stimulus; rather digital stimulus. This does not benefit small businesses. There is also the fact that stimulus will be used to pay overdue debt. It is helpful, but it will not cause inflation.
*Sorry, this was half-baked but I had to get it out there.
5% would be a range buster or a good target to TP
8hr rounding bottom
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So close to 52. Like a golf ball bouncing out of the hole.
Prime real estate for a "100x make it or break whole portfolio short for a -5% leg down no wicks position" or reduce long
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~4% down on bitcoin, if this doesn't round bottom, it's cooked. Can't find a reason for yield to run up at this moment other than reduced JGB purchasing