The market yield on a 10-year U.S. Treasury note — the benchmark long-term risk-free rate in dollars.
It reflects longer-run growth and inflation expectations plus a term premium.
Frequently referenced as a discount-rate benchmark for long-duration assets; we present it as backdrop, not as causation.
Descriptive context, not a forecast or a recommendation. We show conditions and let you draw the connection; we do not assert that this indicator moves any price.
This rate is an input to the discount rate r in each asset’s price-decomposition waterfall — r = the risk-free rate (10-year Treasury) plus a disclosed crypto risk premium. A higher r shrinks the capitalized fundamental (E/r), so the measurable floor is smaller and more of the price reads as premium. An input to a discounting model, not a claim that the rate causes a price move. See the method →