Yields Are Back. The Altseason Trigger Is Trapped.
We are watching a classic macro squeeze play out. US 10-year Treasury yields are spiking toward two-week highs. This isn't just noise; it’s a signal that safe-haven demand is waning or, more critically, that inflation expectations are being aggressively re-priced higher.
When yields rise, non-yielding assets suffer. Gold is already cooling dramatically. For $BTC this creates immediate "Risk-Off" pressure, halting momentum as liquidity tightens up. The entire market is holding its breath for the Fed’s next move. Critical data points—NFP, CPI, and PMI—are the key variables that will define the next quarter.
Despite some contraction signals, the long-term thesis for an Altseason remains intact. That trigger, however, requires the Fed to confirm future rate cuts and looser financial conditions. Until then, the liquidity needed to launch $LINK and the rest of the alt complex is currently trapped by yield volatility. Deep pockets are waiting for the confirmation signal before injecting capital.
This is not financial advice.
#MacroAnalysis #FedWatch #BTC走势分析 #Yields #Crypto
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