Gold at $4500, BTC at $80,000 Resistance Amid U.S. Treasury Yield Pressure

Gold and Bitcoin (BTC) rebounded to key levels of $4,500 per ounce (approximately 6.16 million won) and $80,000 (approximately 196 million won), respectively, but face resistance at these levels amid U.S. 10-year Treasury yield pressure, according to analyst Mike McGlone of Bloomberg Commodities Strategy. On July 17, McGlone outlined the critical levels as $4,500 for gold, $80,000 for Bitcoin, and a 5% yield for U.S. 10-year Treasuries in a post shared by Blockbeat.

McGlone noted that both assets previously breached their respective highs of $5,000 (approximately 6.85 million won) for gold and $100,000 (approximately 137 million won) for Bitcoin before potentially forming peaks. Subsequently, they rebounded from key support levels around $4,000 (approximately 5.48 million won) for gold and $60,000 (approximately 82.2 million won) for Bitcoin.

However, McGlone warned that if U.S. 10-year Treasury yields rise to 5%, it could weigh on assets with no yield, such as gold and Bitcoin, increasing volatility. Unlike Treasuries, which offer fixed interest payments, gold and Bitcoin do not generate income from holding, prompting investors to reassess asset attractiveness during rising yield environments. This analysis positions gold and Bitcoin as assets potentially affected by U.S. Treasury yield increases, with Bitcoin's $80,000 level acting as a short-term resistance barrier alongside gold's $4,500 level and the 5% Treasury yield threshold determining the sustainability of their rebounds.