Bitcoin Funds Took In $2.5 Billion as the 10-Year Yield Hit 5.31%. Is Bitcoin Ignoring the Bond Market?

Bitcoin just posted its best September in over a decade while government bonds hit yields unseen since 2002, a combination that defies almost every rule of how investors are supposed to behave. Something has to give.

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In the week ending September 29, 2026, crypto investment funds attracted $3.55 billion, marking their largest weekly inflow of the year, according to CoinShares. Among these, Bitcoin (CRYPTO: BTC) funds alone accounted for $2.52 billion. Just one day later, the 10-year Treasury yield surged to 5.31%, reaching its peak since 2002.

Normally, these two events do not occur simultaneously. Typically, money flows out of non-interest-bearing assets like Bitcoin when government bonds offer their highest rates in years. As of October 3, Bitcoin is trading near $84,600. So why does it seem like Bitcoin is ignoring the bond market?

The 10-Year Treasury Yield Hit Its Highest Level Since 2002

The 10-year Treasury yield represents the annual return that investors earn by lending money to the U.S. government for ten years. Considered one of the safest investments, this yield influences rates on mortgages, car loans, and corporate borrowing.