According to @KobeissiLetter, a recent auction of 10-year U.S. Treasury notes showed exceptionally strong demand, which undermines the narrative that investors are abandoning U.S. government debt for alternative assets like Bitcoin (BTC) and gold. The source notes that demand for the $39 billion in notes outstripped supply by more than 2.5 times, with a historically low primary dealer takedown of just 9%, indicating robust buying from other investors. This strong performance occurred despite the backdrop of a worsening U.S. debt situation, with the national debt exceeding $36 trillion. While some analysts point to Bitcoin (BTC) as a hedge against this fiscal crisis, the auction results suggest that confidence in traditional U.S. debt instruments remains high, a factor crypto traders should monitor as it could impact capital flows into the digital asset market. An upcoming 30-year bond sale is expected to provide further insight into investor sentiment.