#Cryptocurrency prices are under pressure.#
Hot Topic Overview
Overview
The cryptocurrency market experienced a bull run in the last quarter of 2024, but recently rising global government bond yields have put pressure on cryptocurrency prices. The US 10-year Treasury yield has climbed to 4.70%, nearing a multi-year high, while the UK 30-year gilt yield has reached its highest level since 1998. While the rise in yields over the past few months has not hindered cryptocurrency price movements, major cryptocurrencies like Bitcoin have seen declines since the Fed's rate cuts. Despite this, yields have fallen sharply in China due to deflationary concerns.
Ace Hot Topic Analysis
Analysis
Cryptocurrency prices have recently come under pressure, primarily due to rising global government bond yields. The US 10-year Treasury yield has climbed to near a multi-year high of 4.70%, while the UK 30-year gilt yield has surged to its highest level since 1998. Other countries like Germany, Italy, and Japan have also experienced similar upward trends in yields. While rising yields have not hampered cryptocurrency price movements in recent months, major cryptocurrencies like Bitcoin have seen declines recently, partly due to investors shifting funds towards higher-yielding bond markets. Notably, China has witnessed a sharp decline in yields amid deflationary concerns, bucking the global trend. Overall, the cryptocurrency market is currently facing pressure from rising government bond yields, which will continue to influence cryptocurrency price movements.
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.
Rising interest rates in major economies like the US and Europe have led investors to shift funds from risky assets like cryptocurrencies to safer investments such as government bonds.
The cryptocurrency market experienced a bull run in the last quarter of 2024, but the emergence of a rising yield trend has led to price declines.
Concerns about deflation in China have led to a decline in yields, making it an exception in the cryptocurrency market.