[U.S. 30-Year Treasury Auction Yield Hits Highest Level Since 2007, Potential Pressure on Risk Assets Like Bitcoin] BlockBeats News, July 20: According to data from Kobeissi Letter, the latest auction yield for U.S. 30-year Treasury bonds has risen to 5.06%, marking the highest level since 2007 and pushing long-term Treasury yields back above 5%. By comparison, the yield for the same maturity at the beginning of 2022 was approximately 2%. Analysts believe that the rise in long-term yields indicates an increase in risk-free rates, which will raise the discount rate for risk assets, creating structural pressure on high-risk assets such as Bitcoin. The current risk-free yield above 5% has raised the threshold for speculative capital allocation, while the rising cost of debt financing due to the expanding fiscal deficit has also sent short-term risk-averse signals to the market. In addition, the investment boom in artificial intelligence infrastructure is further intensifying competition for capital. Large tech companies are continuously issuing bonds to finance AI development, competing with the U.S. government for market funds and further driving up long-term interest rates. The market is closely watching the 5.20% level, which was the high point in May of this year. If yields break through this level, it could signal a continued rise in long-term rates and a further tightening of financial conditions. [Original Link]