Bitfinex's latest report states that the yield on the 10-year US Treasury bond has reached 4.79%, the highest level in 14 months. This surge, by increasing the opportunity cost of holding non-yielding assets (such as Bit), has impacted Bit and attracted institutional investors to shift towards safer, income-generating options, such as government bonds. With Bit hovering around the critical support level of $90,000, the market may enter a range-bound environment characterized by consolidation. The rising government bond yields, hawkish Federal Reserve signals, and outflows from ETF funds indicate a changing macroeconomic backdrop that poses challenges for risk assets. (cryptoslate)