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 a prolonged period of elevated interest rates (source: The Kobeissi Letter, Twitter, May 22, 2025). Historically, similar steepening of the yield curve has coincided with rising CPI inflation, which can drive increased volatility and capital flows into cryptocurrencies as investors seek inflation hedges and alternative assets. Crypto traders should monitor potential shifts in risk sentiment and liquidity, as higher bond yields and inflation expectations may impact Bitcoin and altcoin price action.