According to Woofun AI, the 30-year fixed mortgage rate in the United States surged 19 basis points in a single day to 7.45%. This unusual move, confirmed by a Mortgage News Daily survey, is transmitting through US Treasury yields to the crypto market, triggering sharp swings in asset prices.

Macro-level pressure stems from an overall selloff in the US government bond market. Data cited by CNBC shows the 30-year bond yield has climbed significantly from 5.99% at the end of February, with the outbreak of the Iran war and the Federal Reserve's September rate hike accelerating the process. Matthew Graham, chief operating officer of Mortgage News Daily, noted that since September 10, Fed statements, strong economic data and rising oil prices have been the main drivers, though he acknowledged that Thursday afternoon's selloff lacked a clear trigger and was simply the result of a large number of sellers exiting.

Data compiled by Woofun AI shows the 10-year US Treasury yield jumped from 4.96% on Tuesday to 5.18% on Thursday. The Kobeissi Letter blamed the plunge on inflation, pointing out that Brent crude is above $105 per barrel, diesel prices have hit a record, and consumers expect inflation of 4.6% over the next year.

The crypto market is sensitive to this, as high yields raise the opportunity cost of holding BTC. On Wednesday, BTC briefly fell below $84,000 after the 10-year Treasury yield broke above 5%. On Friday, BTC recovered to $84,590, posting a modest rebound. Other major coins performed more strongly, with SOL up 2.2% and XRP up 3.4%.

The core question now is whether crypto investors can withstand this squeeze from risk-free returns over the long term while US government bond yields remain above 5%. This is another severe stress test for crypto assets following the traditional financial tightening cycle. Follow-up in-depth analysis is available on X and YouTube.