Japan's 40-year bond yield just jumped another 13 basis points. We're witnessing a full-blown bond market breakdown here—yields climbing, prices collapsing, volatility ripping through the market. This isn't just noise. When major developed market debt unravels like this, it tends to ripple across all asset classes, including crypto. Traders watching macro conditions should be paying close attention to how global rate expectations shift and what that means for risk appetite heading into the next quarter.