Gold Dips Below Three-Month Uptrend, Bitcoin Pulls Back from Nine-Month High

Gold has dipped below its three-month uptrend, while Bitcoin has pulled back from a nine-month high as U.S. bond yields test levels last seen in 2004 and 2007. Risks build as Fed rate-hike expectations remain above 70%, while the Dollar Index holds near yearly highs above 101.

This combination of stretched bond yields, elevated dollar strength, and growing geopolitical tensions across key energy-transportation routes could help identify potential longer term market reversals or breakouts, particularly as the U.S. midterm elections approach.

U.S. 10-Year and 30-Year Bond Yields — Monthly Time Frame — Log Scale

Source: TradingView

The key levels to watch on the Treasury-yield charts are 5.30% for the 10-year yield, a level last seen in 2007, and 5.60% for the 30-year yield, last seen in 2004.

These levels represent important resistance zones that could help determine whether yields continue higher or experience a significant reversal. Overbought weekly momentum risks date back to 2022-2023 on both charts. Their direction remains critical for market risk sentiment and precious-metals trends.

Bitcoin Price Outlook — 3-Day Time Frame — Log Scale

Source: TradingView

Following its rebound from weekly oversold conditions last seen in 2022 and the psychological 60,000 level, Bitcoin advanced toward highs last seen in January near 87,000.