The market cap of cryptocurrencies fell by more than $65 billion on Wednesday to a total of $3.462 trillion, amid the current corrective decline in the prices of Bitcoin and other major currencies.
US bond yield
The yield on the 10-year U.S. Treasury note rose 0.9% on Wednesday, extending gains for a fourth straight session, to a nine-month high of 4.724%, undermining risk appetite in markets $BTC
The development comes in the US bond market, where traders have been betting that the Federal Reserve is likely to be slow to cut interest rates this year after data showed strength in economic activity in the United States.