Bitcoin Bulls Should Keep an Eye Out for Spike in Key Bond Market Index

The bitcoin (BTC) bull run has already stalled with ongoing sales from long-term holder wallets and a slowdown in ETF inflows. To make matters worse, another lesser-known but significant market variable appears to be turning against BTC bulls, signaling new challenges on the horizon.That market variable is the MOVE index, created by Harley Bassman, a former managing director at Merrill Lynch. The index calculates implied volatility using a weighted average of option prices on one-month Treasury options across multiple maturities (2, 5, 10, and 30 years). This method captures the collective expectations of market participants about future interest rate movements.The MOVE index has surged from 77 to 89 in three days, marking the sharpest rise since early April, when President…