$BTC - Rising borrowing costs are cooling risk appetite across the board.
The 10-year Treasury yield reached its highest level since 2007 following a strong U.S. business survey.
A poorly received five-year note auction and a rebound in oil prices further pushed yields upward.
DOGE is currently leading the decline among major tokens with an 8 percent drop.
According to CoinDesk, the combination of robust economic data and rising yields is creating a challenging environment for digital assets. It remains to be seen if this shift in bond market sentiment will trigger a sustained period of volatility for major cryptocurrencies.
$DOGE
#Dogecoin #MemeCoins
The 10-year Treasury yield reached its highest level since 2007 following a strong U.S. business survey.
A poorly received five-year note auction and a rebound in oil prices further pushed yields upward.
DOGE is currently leading the decline among major tokens with an 8 percent drop.
According to CoinDesk, the combination of robust economic data and rising yields is creating a challenging environment for digital assets. It remains to be seen if this shift in bond market sentiment will trigger a sustained period of volatility for major cryptocurrencies.
$DOGE
#Dogecoin #MemeCoins