Oil prices ↓ → Treasury yields ↓ → BTC, BNB, ETH, and SOL assets ↑
The interesting development here is the continuous drop in oil prices.
Falling oil prices → potential reduction in inflationary pressure → lower Treasury yields → an environment where investors are more inclined to buy risk assets; notably, the US 10-year Treasury yield has also dropped back below 5%.
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This situation aligns with a "risk-on" environment where not only crypto but also US technology and AI stocks are rising.