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📈 Rate expectations just flipped the other way The Fed already added 25 bps this month, into a 3.75%–4% range But the part most people haven't priced in yet is what the curve is saying about the next two years $BTC Four more quarter-point hikes by June 2027 is now the most likely path, targeting 4.75%–5% Meanwhile the 10-year is above 5.1% — a level last seen in 2007 — and the 20-year is near 5.5% $ETH