The UK 5-year gilt yield just printed its lowest level since late November, dropping roughly 6 basis points intraday to sit at 3.862%. This signals a notable shift in bond market sentiment. When sovereigns rally like this, it typically reflects renewed risk-off positioning—investors rotating out of riskier assets. For crypto markets, this kind of macro backdrop matters. Lower gilt yields suggest softer growth expectations or flight-to-safety flows, which can pressure risk assets including digital currencies. Keep an eye on how traditional bond markets move; they often telegraph broader market stress before crypto feels the full impact.