BlockBeats news, on January 8, according to The Block, Presto Research analyst Min Jung stated, "Due to macroeconomic concerns about persistent inflation, markets, including stocks, have performed poorly. Not only cryptocurrencies, but the Nasdaq index and the S&P 500 index both fell more than 1% yesterday, mainly due to ISM data showing that U.S. economic growth was faster than expected, raising concerns about sustained inflation, which led to a surge in bond yields, with the 10-year Treasury yield reaching its highest level since April."
Cryptocurrency analyst Rachael Lucas from BTC Markets pointed out, "The latest data from the U.S. economy has led traders to expect that the Federal Reserve will maintain higher interest rates for a longer period. The market was previously unsettled by statements made by Federal Reserve Chairman Powell in December, which indicated the Fed's firm stance on monetary policy and weakened hopes for further rate cuts, thus increasing volatility. Looking ahead, Trump's upcoming inauguration on January 20 is expected to trigger market fluctuations as investors anticipate a shift in policy."