In July 2026, foreign private investors sold a net $29.1 billion in US Treasury notes and bonds, while buying $45 billion in short-term Treasury bills. This private selling of long-term debt was largely offset by foreign official institutions, which bought $25.5 billion in notes and bonds, resulting in a slightly negative combined flow for long-term securities. CryptoSlate analysis suggests this trend, alongside rising long-term Treasury yields (10-year yield near 5% by Sept. 16), could increase the opportunity cost of holding non-yielding assets like Bitcoin and reduce capital for risk assets, potentially threatening its next rally.