Bitcoin

This is not an isolated crypto event—it's a macro-driven repricing of all risk assets as bond markets signal tighter financial conditions, higher discount rates, and potential de-rating of long-duration assets like tech stocks and crypto. Historically, sustained yield spikes have preceded crypto drawdowns of 20-30% (e.g., 2022).

Global bond yields are rising almost daily as a bond selloff continues worldwide.

Global Bond Selloff Sends Yields Climbing, Crypto Market Loses 5.3% in 24 Hours

Rising Global Bond Yields Could Trigger a Crypto Miner Capitulation, Creating a Generational Buying Opportunity.

US_TREASURIES

This occurs amid elevated equity valuations and a 'greed' sentiment (Fear & Greed 73), with high BTC dominance signaling a risk-off tilt within crypto. Rising yields could accelerate rotation from growth to value and from risk assets to cash, but may also bolster the case for Bitcoin as a non-sovereign hedge.

US Treasury bonds

US Treasury yields have been surging alongside global bond yields, prompting discussion on whether bonds are becoming fundamentally riskier and the implications for hedging stocks with government debt.

Global Bond Rout Puts the Stock-Bond Hedge in Doubt, Chicago Fed Economist Weighs In

Treasury selloff is quietly breaking the collateral chain that powers crypto's $20B institutional lending market, forcing a shift to on-chain T-bill tokens.

This is the latest escalation in a geopolitical energy shock that forces a toxic mix of higher inflation expectations and tighter financial conditions. Bond vigilantes are demanding a higher term premium, which typically pressures all risk assets, but crypto's high BTC dominance suggests capital is rotating into Bitcoin as a relative safe haven within the asset class.

US Treasuries

The US bond market selloff deepened after President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, threatening to prolong the war's energy shock.