The latest U.S. 7-year Treasury note auction came in at 3.930%, landing just shy of the pre-sale when-issued yield of 3.933%. While the gap seems marginal, it signals subtle shifts in bond market sentiment and investor demand. This modest yield movement deserves attention from crypto participants monitoring macro conditions—Treasury performance often foreshadows broader risk appetite in digital assets. Lower yields can reshape the opportunity cost calculus between traditional fixed income and higher-yielding crypto strategies. Keep tabs on these macro signals; they ripple across all asset classes.