10x Research founder Markus Thielen and Niles Investment Management founder Dan Niles predict the 10-year U.S. Treasury yield could reach 6% in the coming months, a level last seen in 2000. Thielen notes that the impact on Bitcoin (BTC) depends on the drivers behind rising yields: if driven by fiscal and term-premium concerns (investors demanding higher compensation for long-term bonds due to inflation and government borrowing uncertainty), it could be bullish for alternatives like Bitcoin. However, if yields rise due to aggressive Fed tightening, Bitcoin could suffer, as seen in 2022. The current rise is largely attributed to fiscal fears and strong nominal growth.