Positive swings in high-yield bond yields align with Bitcoin bear markets, Joao Wedson notes

Positive swings in high-yield bond yields align with Bitcoin bear markets, Joao Wedson notes
Bond yields may indicate Bitcoin bottom

Joao Wedson observes that when the year-over-year change in high-yield bond yields turns positive, Bitcoin has historically been in a bear market and forming a bottom.

Currently, he notes that the annual change in high-yield bond yields is approaching positive territory again, potentially setting up a repeat of past market behavior for Bitcoin.

Wedson has recently argued that comparing Bitcoin and Ethereum exchange reserves provides a useful signal for potential ETH outperformance over BTC, according to his exchange reserve analysis. In another post, he warned that many on-chain crypto analysts have shifted to using narratives that appear manipulated in recent years, as described in his narrative review. These findings add context to his latest observations on high-yield bond yields and Bitcoin market cycles.

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