10-Year Yield Above 5%, Oil Near $90, And Bitcoin: 3 Charts That Could Test The Stock Rally

Bitcoin has rebounded to near its September highs, with chart patterns suggesting the recovery may be developing into a longer-term uptrend; crowded short positions just above market could amplify a further rise if prices break higher. But a 10-year Treasury yield above 5% and oil near $90 pose headwinds to risk assets and could test the broader stock rally, limiting Bitcoin’s upside. The outlook is therefore constructive but vulnerable to macro-driven volatility, and the recent bounce does not eliminate downside risk.