According to The Kobeissi Letter, US stocks have extended declines with the Dow Jones Industrial Average falling over 2% following a very weak 20-year US Treasury bond auction, pushing yields higher (source: The Kobeissi Letter, May 21, 2025). Rising yields and sharp equity declines often trigger increased volatility in cryptocurrency markets as investors seek alternative assets and liquidity. Crypto traders should closely monitor risk sentiment shifts and potential capital flows from stocks to digital assets as market uncertainty grows.