Is the debt structure about to run into trouble?

Latest data: In the past year, the US Treasury has issued $25.4 trillion in T-Bills (short-term zero-coupon bonds), accounting for 69.4% of the total $36.6 trillion issued—this ratio is approaching a historical ceiling.

What's the problem? More and more short-term debt is snowballing to replace long-term debt. If inflation makes a comeback and the Fed is forced to raise rates again... interest costs? They’ll blow right through the roof.

What does this have to do with crypto? When macro liquidity tightens, the crypto market inevitably gets hit. The only remedy now is rate cuts, but whether the Fed dares to act is another question entirely.