Wintermute pointed out in its October 5 market update that the correlation between Bitcoin and U.S. stocks has risen again after nearly two months of decoupling. This changes BTC's risk profile, making it more susceptible to stock market downturns during periods of high correlation. Meanwhile, the 10-year U.S. Treasury yield is nearing 5.35%, the highest since 2008, increasing the opportunity cost of holding non-yielding long-term assets and draining liquidity. As a result, Wintermute believes that current macro downside risks outweigh crypto-specific catalysts. If yields retreat, they maintain a moderately bullish outlook and suggest that the November 3 midterm elections could be a potential turning point for long-term yield stabilization. At the same time, they advise against chasing low-quality altcoins. The altcoin market has seen its first weekly decline after consecutive gains, with funds flowing into previously underperforming micro-cap coins, indicating that this round of micro-cap coin rebound is entering its later stages. https://(wublock123.com)/news/wintermute-bitcoin-us-stock-correlation-risks-macro-downside-over-crypto-69561