Key Takeaways
- • Digital asset funds have attracted $11.1 billion since mid-July, but weekly inflows have recently slowed as US Treasury yields climbed.
- • The 10-year Treasury yield has risen above 5.3% and the 30-year yield has reached 5.7%, levels not seen in more than 20 years.
- • CoinShares argues that US fiscal sustainability concerns, rather than Federal Reserve policy, may increasingly shape Bitcoin's role as an alternative asset.
- • Higher yields typically weigh on Bitcoin by making bonds more attractive, but yields rising on fiscal worries could lead investors to treat Bitcoin as a hedge against sovereign debt risk.
- • On October 9, 2026, 12 of 50 major cryptocurrencies priced on Pluang rose and 37 fell, with CRV down 12.27%.
Summary
Digital asset funds have attracted $11.1 billion in inflows since mid-July, but weekly inflows have slowed recently as US Treasury yields have risen to multi-decade highs. The 10-year Treasury yield has moved above 5.3% and the 30-year yield has reached 5.7%, levels not seen in more than 20 years. Rising yields have historically been a headwind for Bitcoin, since higher returns on government bonds make them more competitive with non-yielding assets.
According to CoinShares, however, the driver of yield movements matters. The firm argues that concerns about US fiscal sustainability, rather than Federal Reserve policy, may increasingly influence Bitcoin's role as an alternative asset. If yields are rising because investors are worried about government debt levels, Bitcoin could attract demand as a hedge against sovereign debt risk, which would reverse the usual relationship between yields and the asset.
The slowdown in fund flows comes against a mixed macroeconomic backdrop, with signs of weaker employment alongside persistent inflation. CoinShares's analysis suggests these factors together will shape Bitcoin demand going forward, and the recent cooling in inflows indicates that investors are still reassessing the asset's position relative to fixed income.
Pluang's market data for October 9, 2026, at 17:21 WIB, shows broad weakness across major cryptocurrencies, with 12 of 50 tokens rising and 37 falling. CRV fell 12.27% to Rp6,100 with 90% of order activity on the sell side. BAL rose 11.14% to Rp16,297, and ATOM gained 8.47% to Rp34,899, with 77% of order activity on the buy side.
According to CoinShares, however, the driver of yield movements matters. The firm argues that concerns about US fiscal sustainability, rather than Federal Reserve policy, may increasingly influence Bitcoin's role as an alternative asset. If yields are rising because investors are worried about government debt levels, Bitcoin could attract demand as a hedge against sovereign debt risk, which would reverse the usual relationship between yields and the asset.
The slowdown in fund flows comes against a mixed macroeconomic backdrop, with signs of weaker employment alongside persistent inflation. CoinShares's analysis suggests these factors together will shape Bitcoin demand going forward, and the recent cooling in inflows indicates that investors are still reassessing the asset's position relative to fixed income.
Pluang's market data for October 9, 2026, at 17:21 WIB, shows broad weakness across major cryptocurrencies, with 12 of 50 tokens rising and 37 falling. CRV fell 12.27% to Rp6,100 with 90% of order activity on the sell side. BAL rose 11.14% to Rp16,297, and ATOM gained 8.47% to Rp34,899, with 77% of order activity on the buy side.
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