According to The Kobeissi Letter, the US 5-Year to 30-Year bond spread has steepened to 1.00% for the first time since October 2021, signaling that markets are pricing in stronger economic growth, higher inflation, and expectations for a 'higher for longer' interest rate policy (source: @KobeissiLetter, May 22, 2025). For cryptocurrency traders, this yield curve steepening typically increases volatility across risk assets, as higher yields can pressure valuations and liquidity. In previous cycles, such macro shifts have influenced Bitcoin and altcoin price action, often leading to short-term corrections but also setting up potential long-term buying opportunities as traditional markets adjust to new monetary policy expectations.