Bitcoin is reportedly entering an 'up only mode' amid a significant downturn in the US bond market, with a notable selloff observed this week. The US 10-year Treasury yield has risen above 4.59%, the highest in two months, as market confidence declines due to various macroeconomic factors, including recent tumult in trade policies. This situation bolsters Bitcoin’s appeal as a potential safe haven, leading to a rise in its price by over 4.5% to approximately $83,250. Analysts, including former BitMEX CEO Arthur Hayes, anticipate that continued poor macroeconomic conditions may prompt federal intervention leading to more favorable outcomes for Bitcoin. Additionally, traders expect several rate cuts from the Federal Reserve by year-end, enhancing Bitcoin's bullish sentiment. The drop in the US Dollar Index (DXY), now under 100 for the first time since 2022, also hints at favorable conditions for Bitcoin, typically signaling bullish trends. With Bollinger Bands indicating a potential rally, analysts foresee Bitcoin possibly reaching $100,000 if these trends continue.

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