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The U.S. Treasury on Wednesday said it would step in to support the market for its own bonds after the cost of long-term government borrowing shot up to the highest level in almost two decades. That rise in borrowing costs had become a problem for both the government’s finances and maybe even crypto.

Bitcoin(CRYPTO: BTC) is up over 20% from its lows below $60,000, but a prominent crypto analyst on Wednesday cautioned that similar rallies in previous bear markets ultimately gave way to fresh lows.

Glassnode, a leading on-chain analysis platform for the cryptocurrency market, stated that as consumer confidence in the US remains weak, investors are shifting towards equities, and Bitcoin is not benefiting enough from this capital rotation and therefore is unable to rise.

President Trump is reportedly set to meet with top crypto executives at the White House this week, arriving at a moment when the CLARITY Act remains stuck in the Senate and its odds of passing this year keep shrinking.

$XRP long-standing investment narrative has centered on its real-world utility, particularly in payments, liquidity, and cross-border finance.