If the 10 year yield goes up, what are the sellers doing with their cash? They are not buying stocks. They are not buying even riskier emerging markets. Cryptocurrencies are too small to absorb these levels of sell offs. Are they going into the shorter end of the yield curve? https://ycharts.com/indicators/10_2_year_treasury_yield_spread ?
If the 10 year yield goes up, what are the sellers doing with their cash? They are not buying stocks. They are not buying even riskier emerging markets. Cryptocurrencies are too small to absorb these levels of sell offs. Are they going into the shorter end of the yield curve? https://ycharts.com/indicators/10_2_year_treasury_yield_spread ?