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A thread 🧵
The bond market is telling us two things.
Short-term yields have eased since late July because traders think the Fed is done raising.
The 30-year keeps climbing, pricing inflation and government borrowing.
Long-term bond yields ultimately sets the conditions for $BTC.
"The governing force for bitcoin sits in crypto-native positioning," Bitfinex Alpha cited in @CoinMarketCap's recent look at $BTC's shifting relationship with tech stocks.
Ethereum's staking reward never runs out. A draft proposal would change that.
EIP-8363 burns validator rewards as staking rises, taking new rewards to zero. Its authors say the network overpays for security it has.
Businesses earning that yield disagree.
Staked $ETH has climbed to a record 41.7 million, a third of all ETH in existence, while price fell from $3,400 in January to $1,900.
As the amount staked grows, the rewards do not run out, which is why the pile keeps growing.