$573M liquidated in 24 hours, treasury yields at 4.55%, feels like crypto is just trading the Fed at this point

Bitcoin dropped from $82k to $78k with $573M in liquidations over 24 hours, driven primarily by rising treasury yields (10-year at 4.55%, 30-year at 5.04%) rather than leverage accumulation. The author argues that attractive risk-free returns from treasury bonds are pulling real money away from crypto, making macroeconomic factors more influential than bullish catalysts like the Clarity Act.