#Cryptocurrency prices are under pressure.#

Cryptocurrency prices have recently come under pressure, primarily due to rising global government bond yields. While the cryptocurrency market experienced a bull run in the last quarter of 2024, the upward trend in global yields has become undeniable. The US 10-year Treasury yield, a global benchmark, has climbed to 4.70%, nearing multi-year highs, and has risen 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 rise in yields over the past few months did not seem to hinder cryptocurrency price movements, major cryptocurrencies like Bitcoin have recently seen declines, partly due to investors shifting funds from risk assets to higher-yielding bonds. Although China has witnessed a decline in yields due to deflationary concerns, the overall upward trend in global yields is putting pressure on the cryptocurrency market, and future price movements remain a concern.