Analyst: Rising global bond yields may prevent cryptocurrencies from rising further

Analyst James Van Straten said that the cryptocurrency market has been in a bull market since the end of 2024, but the trend of rising global government bond yields seems to have become impossible to ignore. The 10-year U.S. Treasury yield, regarded as a benchmark for global standards, rose to 4.70% as of Wednesday, close to a multi-year high, and has risen by more than 100 basis points since the Federal Reserve first cut the federal funds rate in September. The 30-year UK government bond yield rose to 5.35% on Wednesday, the highest level since 1998. The yield has risen 105 basis points since the Fed's first rate cut in September. (Coindesk)