CoinDesk cited an analysis by Jurrien Timmer, Fidelity Investments' director of global macro, pointing out that U.S. government bond yields (the risk-free rate in financial markets) are rising again, making government bonds compete with risk assets like stocks for capital. Timmer emphasized that from the 1960s to the mid-1990s, rising U.S. government bond yields led to painful market adjustments, such as the "Black Monday" stock market crash in 1987. Currently, the 30-year U.S. government bond yield has hovered at its highest level since 2007, and if Wednesday's U.S. CPI data exceeds expectations, it could further validate the Federal Reserve's "higher for longer" interest rate outlook. The analysis suggests that if yields continue to rise, all assets, including stocks and Bitcoin, will need to justify their prices through stronger earnings or cash flow. For Bitcoin, due to its lack of earnings and cash flow, its value relies entirely on its appeal as "digital gold" and a hedge against fiat currency depreciation, making its future price predictions of $500,000 or $1,000,000 seem "a bit far-fetched."