According to The Kobeissi Letter, the US 10-year Treasury Note yield surged by 6 basis points following US Treasury Secretary Bessent's remarks about trade 'deals' on Fox News, which came immediately after markets reacted negatively to former President Trump's announcement of a 50% tariff on EU goods and a 25% tariff on Apple products (source: @KobeissiLetter, May 23, 2025). Rising bond yields typically signal risk-off sentiment in traditional markets, increasing volatility and potentially driving inflows into cryptocurrencies as alternative assets. Traders should monitor yield movements and tariff news for near-term crypto price action, as heightened uncertainty could impact Bitcoin and altcoin volatility.