Simply put, the continued rise in U.S. Treasury yields usually drives up the cost of new loans and refinancing for businesses and households. For those who need to borrow money, expenses like mortgage and car loan interest increase, leaving less money available for consumption and investment. At the same time, as Treasury yields offer higher returns, investors will demand higher expected returns when buying U.S. stocks or bitcoin:native. If employment and income growth slow down while borrowing costs remain high, some businesses may reduce expansion, control wages, lay off employees, or even face bankruptcy if operations become difficult. Employees, facing risks of income reduction or unemployment, are more likely to save money for living expenses and debt repayment, reducing their investments. As a result, businesses will be more cautious about borrowing for expansion, and individuals will be more cautious about investing in risk assets. So, persistently high interest rates will squeeze some investors' "liquid money" and reduce their willingness to invest in U.S. stocks and Bitcoin. Check out @Gate for trading in more markets.