According to CoinMeta, the yield on 30-year U.S. Treasury bonds has risen to its highest level since 2002, reaching 6.03%. The net assets of wealthy families are 14.3 times that of the bottom 50% of families. Since 2020, the purchasing power of the dollar has declined by 23%. The increase in the yield on 30-year U.S. Treasuries puts pressure on Bitcoin as a discount rate, while ongoing inflation and the decline in the purchasing power of the dollar strengthen Bitcoin's role as an inflation hedge. The market is facing two conflicting signals.