Odaily Planet Daily reports that Presto Research analyst Min Jung stated, "Due to ongoing macroeconomic concerns about persistent inflation, the market, including stocks, has shown weakness. Not only cryptocurrencies, but the Nasdaq and S&P 500 indices both fell more than 1% yesterday, mainly due to ISM data showing that U.S. economic growth is stronger than expected, raising concerns about persistent inflation, which caused bond yields to soar, with the 10-year Treasury yield reaching its highest level since April." BTC Markets' cryptocurrency analyst Rachael Lucas pointed out, "The latest data on the U.S. economy has led traders to expect that the Federal Reserve will maintain elevated interest rates for a longer period. The market had previously been unsettled by comments from Fed Chairman Powell in December, which indicated a firm stance on monetary policy and weakened hopes for further rate cuts, thereby increasing volatility. Looking ahead, Trump's upcoming inauguration on January 20 is expected to trigger market fluctuations as investors anticipate policy changes." (The Block)

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