#Cryptocurrency prices are under pressure.#

Cryptocurrency prices are currently facing pressure from rising global government bond yields. While the crypto market experienced a bull run in the last quarter of 2024, recent sharp increases in bond yields in countries like the US, UK, Germany, Italy, and Japan have begun to negatively impact cryptocurrency prices. For instance, the US 10-year Treasury yield has climbed to 4.70%, nearing multi-year highs, while the UK 30-year government bond yield has reached its highest level since 1998. These rising yields signify increased borrowing costs, which could dampen investor appetite for risk assets like cryptocurrencies, leading to price declines. While the yield increases over the past few months haven't hindered cryptocurrency price movements, major cryptocurrencies like Bitcoin have recently experienced declines, falling over 10% from their all-time highs. Notably, China has witnessed a sharp decline in its yields, contrary to the global trend, due to deflationary concerns. Overall, rising government bond yields are putting pressure on cryptocurrency prices, and future movements warrant close monitoring.