Bitcoin's $80K test may be decided by the bond market — not the Fed!

The 10-year Treasury yield spent all of April inside a 4.26%–4.35% band, its tightest Bollinger Band compression since January 16, while Reuters' technical commentary placed it inside a symmetrical triangle — a classic coiled setup that frequently precedes a sharp directional move. Bitcoin is pressing into its own compressed range at the same moment, with the short-term holder cost basis at $80,100 acting as the immediate resistance ceiling per Glassnode's April 22 report.

Institutional demand has been genuine: CoinShares' latest weekly report logged $1.2 billion in crypto product inflows — the fourth consecutive positive week and third straight above $1 billion — with $933 million flowing to Bitcoin and $192 million to Ethereum. US spot Bitcoin ETFs posted nine straight positive sessions from April 14 to April 24, totalling over $2 billion. Total crypto AUM has climbed to $155…