Crypto Market Under Pressure Due to Rising US Bond Yields.
The crypto market is once again facing pressure after the rise in United States (US) bond yields triggered a shift in investor sentiment toward risk assets. Bitcoin (BTC) fell 2.60% in the last 24 hours to the $84,250 level.
Bitcoin's decline occurred after the yield on US government bonds with a 10-year tenor broke through 5.03%, the highest level since July 2007.
Compared to the lowest point last March, the yield has increased by 113 basis points.
The increase in yields also occurred on 30-year US bonds, which reached 5.34%. This movement tightened global financial conditions and also helped push mortgage interest rates in the US close to 7.50%. $BTC
The crypto market is once again facing pressure after the rise in United States (US) bond yields triggered a shift in investor sentiment toward risk assets. Bitcoin (BTC) fell 2.60% in the last 24 hours to the $84,250 level.
Bitcoin's decline occurred after the yield on US government bonds with a 10-year tenor broke through 5.03%, the highest level since July 2007.
Compared to the lowest point last March, the yield has increased by 113 basis points.
The increase in yields also occurred on 30-year US bonds, which reached 5.34%. This movement tightened global financial conditions and also helped push mortgage interest rates in the US close to 7.50%. $BTC