Bitcoin price dropped 4–6% within a 24-hour window on Wednesday, May 20, as the 30-year US Treasury yield hit 5.197%-its highest print since July 2007-and the 10-year held near 4.6%, well above its long-term average of roughly 4.25%, compressing risk appetite across every high-beta asset class and triggering an estimated $100M in crypto liquidation of leveraged long positions.
The move extended Wall Street’s losing streak to three consecutive sessions and dragged Asia-Pacific equities lower, as investors repriced the duration of the Federal Reserve’s higher-for-longer stance amid sticky inflation and renewed geopolitical tensions.
The current macroeconomic regime is not an isolated spike. From…
