Treasury yields dropped sharply after President Donald Trump announced that US-Iran negotiations had entered their “final stages,” triggering a broad rally across the $31 trillion Treasuries market. The move marks a notable reversal for a market that had been under persistent selling pressure since late February 2026.

For crypto investors, the ripple effects were immediate. Bitcoin recovered intraday losses following the news, and ether alongside a broader index of digital assets posted gains in tandem with the risk-on mood sweeping traditional finance.

What happened in the Treasuries market

The 10-year Treasury yield fell sharply on May 20 after Trump’s remarks. The Treasuries market had been in a rough stretch. Since late…