According to The Kobeissi Letter, the US 10-year Treasury note yield jumped above 4.50% following Donald Trump's announcement of increased tariffs, with Bessent signaling that additional trade deals may be on the horizon. This sharp move in bond yields underscores heightened market uncertainty and could lead to increased volatility across risk assets, including cryptocurrencies. Traders should monitor correlations between Treasury yields and crypto price action, as rising yields often signal a risk-off environment that may pressure Bitcoin and altcoin prices. Source: The Kobeissi Letter on Twitter, May 23, 2025.