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High U.S. Treasury yields dampen bitcoin's $1M price forecasts, signaling potential downside ahead.

Market News
13 Aug 2026
Coindesk
View Source
Bearish
pluang ai news

Bitcoin price predictions of $1 million or more may be overly optimistic due to the high yields on long-term U.S. Treasuries, which make non-yielding assets like bitcoin less attractive. While bitcoin's dollar price hit $126,000 in 2025, its price adjusted for the 30-year Treasury yield fell short of previous highs, breaking a bullish pattern. The BTC-to-30-year Treasury yield ratio has now completed a bearish head-and-shoulders pattern, suggesting further downside against the cost of capital. For bitcoin to reach seven-figure prices, interest rates likely need to drop to the supportive levels seen in 2020-21, which currently seems unlikely.

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