The 30-year US Treasury yield hit 5.198% in mid-May 2026. That’s the highest it’s been since before the 2007-2008 financial crisis, and the ripple effects are reaching well beyond Wall Street’s bond desks.
The 10-year note isn’t far behind, climbing to 4.687% and marking multi-month highs of its own.
The yield squeeze on crypto
When you can park money in US government debt and earn over 5% annually with essentially zero credit risk, the appeal of volatile, non-yielding assets takes a hit.
Bitcoin has felt that pressure directly. Weekly outflows from US spot Bitcoin ETFs reached roughly $700 million as yields spiked. The price retreated below the $82,000 resistance level, with trading volumes thinning across major exchanges.
