Macro Overhang Intensifies: JGB Yield Shock vs. Institutional DeFi Capture Dynamics

Japanese 10-year JGB yields breach 3% for the first time in 30 years, rekindling yen carry trade unwind fears and tightening global liquidity conditions. Meanwhile, Robinhood Chain's explosive fee generation and institutional stablecoin initiatives signal a structural rotation toward DeFi infrastructure, with BTC consolidating near $77.8K awaiting directional confirmation.