Note: The original had "24h Change" and "7d Change" - we use "Variation 24h" and "Variation 7j" (j for jours). Also "Fear & Greed" is a common term, but we can translate as "Peur et cupidité" or keep "Fear & Greed" sometimes, but better translate. I'll use "Peur et cupidité". "Sentiment" is fine. "slightly bearish" -> "légèrement baissier". Also "Rank #1" -> "Rang #1".
Now the next paragraph after the snapshot: "If the Treasury actively manages the yield curve through its issuance mix, it can lower long-term yields on its own. That would reduce the opportunity cost of holding crypto and soften the dollar, but it also signals fiscal stress. A steeper curve could follow if credibility fades."
Translation: "Si le Trésor gère activement la courbe des taux via sa composition d'émissions, il peut abaisser les rendements à long terme par lui-même. Cela réduirait le coût d'opportunité de la détention de cryptos et affaiblirait le dollar, mais cela signale aussi un stress budgétaire. Une courbe plus pentue pourrait suivre si la crédibilité s'estompe."
Next heading: "The stablecoin squeeze" -> "Le resserrement des stablecoins" or "La pression sur les stablecoins". "Squeeze" can be "squeeze" but in French we might say "l'étau des stablecoins" but better "Le resserrement des stablecoins". I'll use "Le resserrement des stablecoins".
Paragraph: "The quieter effect may run through stablecoin issuers. These firms back their tokens with vast reserves of short-term government debt, and the interest on that debt funds their operations. If Bessent succeeds in keeping yields down, that income shrinks."
Translation: "L'effet plus discret pourrait passer par les émetteurs de stablecoins. Ces entreprises adossent leurs jetons à de vastes réserves de dette publique à court terme, et les intérêts sur cette dette financent leurs opérations. Si Bessent parvient à maintenir les rendements à la baisse, ces revenus diminuent."
Next paragraph: "Issuers would then face an
