HYPE Flywheel Strengthens, Broader Flows Softening Post-STRC

Crypto Holding In Better Than Expected Amid Yield Pressure: Today’s price action was relatively constructive given the continued selloff in sovereign debt markets. BTC ultimately finished modestly lower, while ETH and broader crypto saw somewhat larger declines. Importantly, this occurred as the U.S. 10-year yield pushed toward ~4.7% and the 30-year Treasury traded at its highest level since 2007. While I still b...

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