Sovereign bond yields rose to their highest since 2008 amid the Iran conflict, with the 10-year US Treasury yield near a 20-month peak. The US Dollar Index also rebounded near a two-week high, while markets are pricing a 61.9% chance of a September Fed move.
Matters because: Higher yields and a stronger dollar tighten liquidity conditions, which can pressure crypto valuations if the move persists into the FOMC.