On January 8, according to The Block, Min Jung, an analyst at Presto Research, said that markets, including stocks, were weak due to macroeconomic concerns about continued inflation. Not only cryptocurrencies, but both the Nasdaq and S&P 500 fell more than 1% yesterday, mainly because ISM data showed that the US economy grew faster than expected, triggering concerns about continued inflation, causing bond yields to soar, with the 10-year Treasury yield reaching its highest level since April.