US Treasury Yields Hit 12-Month Highs, Pressuring Bitcoin Prices

Key Facts

1The two- and ten-year Treasury yields hit a 12-month high.

2Bitcoin is still stuck below its 200-day average.

According to reports, the two- and ten-year US Treasury yields have reached their highest levels in 12 months, creating a significant macro headwind for the cryptocurrency market. Bitcoin remains technically constrained, struggling to break back above its 200-day moving average. This trend highlights the increasing opportunity cost for investors holding non-yielding assets as sovereign rates continue to climb.

The surge in yields coincides with mixed US economic signals; per market data, the unemployment rate held steady at 4.3% as of the May 8, 2026 close. However, Non-Farm Payrolls significantly outperformed expectations at 115k versus a forecast of 62k. This labor market resilience supports a 'higher-for-longer' interest rate narrative, which historically pressures risk assets like Bitcoin and technology stocks.

Traders should closely monitor Bitcoin's price action relative to its 200-day moving average as a key pivot point. Looking ahead, upcoming catalysts include a series of speeches from Federal Reserve officials, including Governors Cook and Waller, which may clarify the central bank's stance. Additionally, global inflation trends remain in focus following China's CPI data, which reached 1.2% YoY as of May 11, 2026.