According to Cas Abbé, the USDT supply on crypto exchanges has reached a record high of $46.9 billion, signaling unprecedented liquidity poised to fuel significant altcoin rallies. However, rising US bond yields are currently restraining this liquidity from moving into riskier crypto assets, as investors weigh traditional market returns against potential crypto gains (source: Cas Abbé on Twitter, May 22, 2025). Traders should monitor bond market trends closely, as any moderation in yields could rapidly unlock this sidelined capital and trigger major altcoin price movements.