Meanwhile, Treasury yields edged lower, but that didn’t translate into a quick boost for crypto.

Why should I care?

For markets: Risk appetite cooled, not cracked.

When prices fall and volume fades at the same time, it often signals investors are trimming exposure rather than panicking. That can leave the most speculative tokens more vulnerable to outsized swings, while bigger coins tend to act as the market’s “core” risk barometer. If stocks stay shaky, crypto may keep taking its cues from broader risk sentiment – not crypto-specific headlines.

Zooming out: Rates matter, but mood still rules.

Lower Treasury yields can support long-duration assets by loosening financial conditions. But Thursday was a reminder that the link…