BlockBeats news, on January 8th, Coindesk analyst James Van Straten stated that since the end of 2024, the cryptocurrency market has been in a bull run, but the rising trend of global government bond yields seems to have become hard to ignore. The 10-year US Treasury yield, which is considered the global benchmark, has risen to 4.70% as of Wednesday, close to multi-year highs. Since the first interest rate cut by the Federal Reserve in September, this yield has pumped over 100 basis points. Meanwhile, the 30-year UK government bond yield rose to 5.35% this Wednesday, the highest level since 1998. Since the first rate cut by the Federal Reserve in September, this yield has pumped 105 basis points.
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Analyst: Global bond yields rise may prevent further pump of Crypto Assets
BlockBeats news, on January 8th, Coindesk analyst James Van Straten stated that since the end of 2024, the cryptocurrency market has been in a bull run, but the rising trend of global government bond yields seems to have become hard to ignore. The 10-year US Treasury yield, which is considered the global benchmark, has risen to 4.70% as of Wednesday, close to multi-year highs. Since the first interest rate cut by the Federal Reserve in September, this yield has pumped over 100 basis points. Meanwhile, the 30-year UK government bond yield rose to 5.35% this Wednesday, the highest level since 1998. Since the first rate cut by the Federal Reserve in September, this yield has pumped 105 basis points.