Paid to Wait

Crypto Insight Summary: Treasuries out-yield the crypto carry trade for only the second time on record, and the downstream surfaces have gone quiet with it: spot volume at its lowest since 2019, exchange flows becalmed, the offer side of the book thinned out. The drawdown is shallow, and short of its predecessors' clock. Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Treasuries yielding higher than crypto carry trades reduces demand for crypto assets.