#Cryptocurrency prices are under pressure.#

The cryptocurrency market experienced a bull run in the final quarter of this year, but the recent upward trend in global government bond yields is putting pressure on cryptocurrency prices. The US 10-year Treasury yield has climbed to 4.70%, nearing a multi-year high, and has risen by over 100 basis points since the Fed first cut the federal funds rate in September. Other countries, such as the UK, Germany, Italy, and Japan, have also experienced similar yield increases. While the rise in yields over the past few months has not hindered cryptocurrency price movements, major cryptocurrencies like Bitcoin have recently seen declines, with Bitcoin falling over 10% from its all-time high three weeks ago. This suggests that rising government bond yields are having a negative impact on the cryptocurrency market, as investors begin to shift funds towards traditional assets, such as bonds.