The bond market is breaking.


Japan's 10Y yield just crossed 2.80% for the first time in history.
The US 30Y Treasury hit 5.19%, highest since 2007. New Fed Chair Kevin Warsh is hawkish.
Inflation stuck at 3.8%.
Oil above $100.
Markets now pricing in possible rate hikes.
This is the most significant shift in the global cost of capital in nearly two decades playing out in real time.
Bitcoin isn't crashing. It's reacting rationally to a world where cheap money no longer exists.
The question is whether you understand what you're holding and why.
BTC0.79%
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