US 30-year Treasury auction results reflect shifting market dynamics. The yield came in at 4.825%, up from the previous 4.773%, signaling continued pressure on longer-dated fixed income. The bid-cover ratio strengthened to 2.42 versus 2.36 prior, indicating solid demand despite higher rates. However, direct bidder participation dipped to 21.3% from 23.5%, while indirect bids (including foreign central banks) picked up to 66.8% from 65.4%. The when-issued yield settled at 4.833%. These metrics matter for crypto traders watching macro conditions—elevated bond yields often correlate with capital flows between traditional and digital assets. Stronger foreign participation and higher yields suggest ongoing international appetite for US debt, even as domestic demand softens slightly.