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Still waiting for rate cuts to revive crypto? Take your eyes off the K-line and have a look: Eurozone inflation returned to 3.3% in August, and the market has already priced in a 25 basis point rate hike by the ECB on September 10 as a done deal; Japan's 10-year government bond yield has reached a 30-year high, and the US 10-year yield just broke 4.75% yesterday. Money from major central banks worldwide is getting more expensive together, which is the gravitational pull over all risk assets.