According to Eric Balchunas, the TLT ETF recorded nearly $1 billion in inflows for two consecutive days, extending its inflow streak to 15 days, even as sentiment remains cautious. Despite broader market concerns, TLT was up yesterday and continues to rise in pre-market trading (source: Eric Balchunas on Twitter, May 23, 2025). For crypto traders, this sustained demand for long-duration US Treasuries signals persistent risk-off sentiment in traditional markets, which often correlates with increased volatility and potential safe-haven flows into cryptocurrencies like Bitcoin and Ethereum.