Analysis: The widening of US Treasury spreads weakens the attractiveness of high Beta assets, and the difficulty of Bitcoin returning to $100000 may increase Odaily Planet Daily News: Data shows that the yield spread of US Treasury bonds has widened to its highest level since 2021, and the market is becoming more cautious about the prospects of risk assets, including Bitcoin. David Roberts, director of fixed income at Nedgroup Investments, said that the continuously rising yield will suppress global stock markets, and the pressure is mainly concentrated on long-term treasury bond. The rise in long-term yield will increase the opportunity cost of holding non yielding assets, thus weakening the attractiveness of high beta risk assets such as stocks and Bitcoin. In addition, the relative strength of gold is also seen as another obstacle to Bitcoin. Bloomberg Intelligence strategist Mike McGlone stated that gold is undergoing a "historic alpha acquisition" to attract capital inflows while long-term US bond yields are rising. If investors continue to prefer low volatility value storage assets, the difficulty of Bitcoin returning to key psychological thresholds such as $100000 may increase.