Bond market yields signal trouble for bitcoin's immediate rally

The bond market just threw a wrench into the narrative of a summer crypto breakout. Treasury yields are climbing again, signaling that the Federal Reserve won't be hacking away at interest rates as fast as traders once hoped. When the 10-year yield jumps, investors usually quit gambling on digital assets and park their cash in the safety of government debt. Bitcoin's recent struggle to hold the $70,000 mark reflects this shift in sentiment. It's a classic liquidity squeeze: as borrowing stays expensive, the 'easy money' that fuels weekend pumps starts to dry up. Institutional desks are watching the CME FedWatch Tool, which now shows a shrinking probability for a June cut. If the bond market keeps screaming that inflation is sticky, the orange coin might be stuck in a crab market for longer than expected. Will the bulls find a new catalyst, or is the macro weight too heavy to lift?