According to Bloomberg, part of the spark came from the bond market. 📊 The U.S. Treasury's plan to expand the repurchase of long-term debt pushed yields lower and weakened the dollar. 💵📉
That combination revived what traders call the "devaluation trade" — the idea that as fiscal pressures build, scarce assets outside the traditional monetary system become more attractive. 🪙
This is exactly why macro context matters so much in crypto. Price action rarely moves in a vacuum — it's often bond yields, dollar strength, and fiscal policy quietly setting the stage before BTC even reacts. 🌍
📌 Lower yields = cheaper cost of holding non-yielding assets like Bitcoin.
📌 A weaker dollar = renewed appeal for "hard money" alternatives.
📌 Treasury debt dynamics = a slow-burn narrative that can drive multi-week trends, not just single-day spikes.
Understanding this bigger picture makes it much easier to read where the market may be heading next, instead of just reacting to candles. 🔍
