According to The Kobeissi Letter, US Treasury funds received a record $19 billion in net inflows last week, surpassing the previous high of $14 billion during the 2020 pandemic (source: @KobeissiLetter, April 26, 2025). The 4-week moving average now stands at $7 billion, the highest since March 2023. This surge in demand for US Treasuries signals increased investor preference for safe-haven assets, potentially putting downward pressure on bond yields. For crypto traders, this shift may indicate reduced risk appetite in traditional markets, which historically correlates with short-term volatility in Bitcoin and altcoins as capital temporarily flows out of risk assets (source: @KobeissiLetter).

According to Miles Deutscher, Bitcoin ($BTC) is now more correlated to gold than equities for the first time in five months, which could indicate a shift in its role as a safe-haven asset during times of uncertainty. This correlation suggests that traders should consider gold's price movements as a potential indicator for Bitcoin's future performance.