CoinEx News: The 30-year U.S. Treasury yield climbed to its highest level since 2007, with the real yield topping 3% for the first time since the global financial crisis. The surge pushed yields toward 20-year highs, compounded by U.S.-Iran tensions and mounting fiscal pressure. The selloff spilled over into global equities, dragging South Korea's KOSPI down more than 6% to below 6,500 points, while Bitcoin held near $64,000 as tech stocks wobbled.

The higher yields are now testing Bitcoin's appeal as a hedge against sovereign debt risk, as markets grow wary of the long-term sustainability of U.S. borrowing, with the crypto credit market shrinking by $22.5 billion. A true safe haven would have rallied while equities fell, yet Bitcoin only held its ground near $64,000. With options markets pricing in rate cuts only by 2027, Bitcoin remains tied to global liquidity rather than insulated from it.