10Y Treasury at 5.3% — highest in 24 years. Textbooks say $BTC should be dead. Instead? +43% this quarter. Best performance since 2024.
Last time rates were this high, $BTC didn't even exist.
Old playbook broken. Risk-on is back and macro doesn't matter when the narrative shifts. This is what decoupling looks like.
Last time rates were this high, $BTC didn't even exist.
Old playbook broken. Risk-on is back and macro doesn't matter when the narrative shifts. This is what decoupling looks like.