#数字货币市场回调 The yield on US Treasuries has broken 4.1%! Is this wave of impact coming?

Recently, friends who have been keeping an eye on the market may have noticed that the yield on the ten-year U.S. Treasury has risen again, directly surpassing the 4.086% mark. This sounds quite traditional in terms of finance, but there is actually a hidden line behind it: the Bank of Japan has started to hint at raising interest rates.

Why is this matter worth paying attention to? Japan is the number one overseas buyer of U.S. Treasury bonds. Once they really start raising interest rates, the pressure of domestic capital returning will directly transmit to the U.S. bond market—yields will continue to rise, and the global cost of dollar borrowing will increase accordingly. In such times, the cryptocurrency market usually won't be immune.

In simpler terms: when government bonds, such as "stable assets," start to become more attractive, some institutional investors will naturally be tempted to withdraw from high-volatility digital assets and move to secure that visible fixed income. As liquidity tightens, market sentiment is prone to enter a wait-and-see mode, making short-term fluctuations inevitable.

That being said, the current cryptocurrency market is no longer the barbaric era of just a few years ago that relied purely on speculation. The infrastructure is more solid, institutional participation is higher, and internal resilience has significantly increased. Therefore, this round of adjustment should be understood more as a normal rhythm shift rather than a signal of collapse.

A reminder for retail investors: Don't panic, but don't be careless either. The key is to keep a close eye on two indicators - US dollar liquidity and US Treasury bond trends. Control your positions well, avoid high leverage, and if you get through this period of volatility, it may actually be a good time to pick up some assets later. After all, when looking at the longer cycle, the structural opportunities that should come will not be absent; the key is to hold on until that day. Stay calm, operate according to the trend, and that’s the correct way to navigate through the fluctuations.