question now is whether this was a one-day liquidity wave or the start of a more durable shift in risk appetite.

Why should I care?

For markets: Lower yields can boost risk assets fast.

When Treasury yields drop, bonds and cash can look a little less appealing, which can push money toward higher-volatility assets. Crypto’s total market value rose around 2.4% to roughly $2.6 trillion, and overall trading volume also ticked higher – suggesting participation, not just price drift. But mixed moves across large tokens are a reminder that investors are still discriminating, even on green days.

Zooming out: Trading volume helps validate the move.

Price jumps can fizzle if they happen on thin activity, but bitcoin’s surge in volume points…