⚖️ Bitcoin now has a real rival: 5% bonds.

📉 BTC: -29.7% over 12 months
📉 ETH: -38.4%
📉 XRP: -49.6%
🏦 10Y Treasury yield: ~5.17%

At near-zero yields, holding BTC cost little. At 5%, waiting has a price.

#bitcoin #Bonds #Macro