"Therefore, the biggest risk to the debt burden would be a sharp rise in short-dated yields if the Fed were to hike rates by more than expected in the coming year."

"Therefore, the biggest risk to the debt burden would be a sharp rise in short-dated yields if the Fed were to hike rates by more than expected in the coming year."

The US Treasury's reliance on short-term debt hits a hawkish Fed wall. Here's what $39 trillion in debt means for Bitcoin, stablecoins, and crypto markets.