#Cryptocurrency prices are under pressure.#
Hot Topic Overview
Overview
The cryptocurrency market experienced a bull run in the last quarter of 2024, but the recent upward trend in global government bond yields is putting pressure on cryptocurrency prices. The US 10-year Treasury yield has risen to near a multi-year high of 4.70%, while the UK 30-year gilt yield has reached its highest level since 1998. Since the Fed's first rate cut in September, several countries around the world have experienced similar yield increases, which seems to be impacting cryptocurrency price movements. For example, Bitcoin has fallen over 10% from its all-time high three weeks ago, with other major cryptocurrencies experiencing even larger declines. While China has seen yields fall due to deflationary concerns, overall, rising government bond yields are putting pressure on the cryptocurrency market.
Ace Hot Topic Analysis
Analysis
The cryptocurrency market experienced a bull run in the final quarter of 2024, but rising global government bond yields are putting pressure on cryptocurrency prices. The US 10-year Treasury yield, a global benchmark, has climbed to near multi-year highs of 4.70%, rising over 100 basis points since the Fed's first cut to the federal funds rate in September. Similar yield increases have been observed in countries like the UK, Germany, Italy, and Japan. While the yield rise over the past few months has not deterred cryptocurrency price movements, major cryptocurrencies like Bitcoin have seen declines since mid-December, with Bitcoin falling over 10% from its all-time high of $108,000 reached three weeks ago. Notably, China has seen a sharp decline in yields due to deflationary concerns, contrasting with the global trend.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Global government bond yields rising is a major reason for pressure on cryptocurrency prices.
Interest rates in the US and UK have risen sharply, leading to a decline in cryptocurrency prices.
The cryptocurrency market experienced a good bull run in the last quarter of 2024, but the rising yield trend has become undeniable.
Concerns about deflation in China have led to a sharp decline in yields, becoming an exception to the pressure on cryptocurrency prices.