Analyst: Rising global bond yields may prevent cryptocurrencies from rising further
<ChainCatcher> reported that Coindesk analyst James Van Straten stated that the cryptocurrency market has been in a bull market since the end of 2024, but the trend of rising global government bond yields seems to have become undeniable. The yield on the 10-year US Treasury bond, which is considered the global benchmark, rose to 4.70% as of Wednesday, close to a multi-year high, and has risen by more than 100 basis points since the Federal Reserve first cut the federal funds rate in September. Meanwhile, the yield on the 30-year UK government bond rose to 5.35% on Wednesday, the highest level since 1998. The yield has risen by 105 basis points since the Federal Reserve's first rate cut in September.
