Bitcoin needs the high yield rate to fall as low as 6% if it wants to reach a "sustainable all-time high", says crypto analyst Timothy Peterson.
Only one main indicator is necessary to predict whether or not Bitcoin (BTC) can surpass its all-time high of $73,700 later this year, and it all rests on the shoulders of the United States Federal Reserve, says one analyst.
“The U.S. high yield rate is a great indicator and it really needs to drop below 6 or 7% for a sustainable all-time high,” Timothy Peterson — Cane Island Alternative Advisors founder and investment manager — told Cointelegraph, explaining that the primary measure he looks to for Bitcoin's price action is interest rate movement.
At the time of publication, the U.S. high yield rate — which represents the rate of high-yield corporate bonds because of their higher risk of default — is 7.54%, as per YCharts data.
