Bond market's getting spicy today. The 10-year Treasury yield just climbed to intraday highs, flirting with 4.06%. That's a level we haven't seen in a minute.

For anyone tracking macro trends, this matters. Rising yields typically signal tighter liquidity conditions—less free money floating around means risk assets (yes, including crypto) often feel the squeeze. When bonds pay better, capital flows shift. Simple as that.

Worth keeping an eye on whether this holds or if it's just noise. Rate movements like this don't happen in a vacuum. Fed policy expectations, inflation data, debt ceiling drama—all feeding into this. And when traditional markets move, digital assets rarely stay quiet.