Global bond yields are screaming right now, and most people have no idea what it means for crypto. Australia 10Y: 5.067% Euro 10Y: 2.971% UK 10Y: 4.928% US 10Y: 4.304% Every single one moving higher today. Here is what this means for you: When bond yields rise, the cost of borrowing goes up across the entire global financial system. Risk assets get sold first. Crypto gets sold hardest. This is not a random chart. This is the macro environment that Bitcoin is trying to survive in right now. The people ignoring bond yields and only watching BTC price are missing the full picture. The market does not move in isolation. It moves with the macro, and right now the macro is not friendly. Watch these yields closely this week. If the US 10Y pushes toward 4.5%, the pressure on risk assets is going to get significantly heavier.(CyrilXBT)