According to CoinMeta, analysts believe that the yield on 10-year Treasury bonds could rise to 6%, a level last seen in 2000. Although this may sound like bad news for Bitcoin, the impact on cash-flow-free assets such as Bitcoin and gold depends on the reasons behind the increase in yields. If investors demand higher yields due to concerns about record deficits, rather than economic prosperity or interest rate hikes by the Federal Reserve, it would cast a vote of distrust over the U.S. government's finances. The founder of 10x Research Markus Thielen predicted in a client report on Tuesday that the yield on 10-year Treasury bonds will rise to 6% in the coming months. Since 2022, the yield on 10-year Treasury bonds has doubled from 3.88% due to rapid interest rate hikes by the Federal Reserve, causing Bitcoin to fall by 64% in the same year. Since the end of 2023, the yield on 10-year Treasury bonds has risen by 135 basis points to 5.23%, the highest level since 2007. Meanwhile, the price of Bitcoin has approximately doubled to $86,000.