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BitcoinSistemi 2025-01-09 06:01:06

Analyst Reveals the Event That Could Prevent Bitcoin and Altcoin Prices from Rising in the Near Future

The cryptocurrency market, which has seen a strong rally in the last quarter of 2024, is facing rising global bond yields casting a shadow over cryptocurrency prices, according to analyst James Van Straten. Van Straten noted that government bond yields around the world have been rising in recent months, creating a challenging macroeconomic environment for risky assets like cryptocurrencies. The US 10-year Treasury yield, often considered a global benchmark, climbed to 4.70% as of today. That’s a significant increase of over 100 basis points since the Fed initiated its first rate cut in September. This trend is even more pronounced in the United Kingdom, where the 30-year Gilt yield hit 5.35% this week, its highest level since 1998. That represents a 105 basis point jump since the Fed’s policy change. Similar upward movements in bond yields have been seen in Germany, Italy and Japan. Japan’s 10-year government bond yield in particular rose to 1.18%, its highest level in nearly 15 years, despite historically low rates in the country. Related News: Experienced Analyst Assesses Bitcoin Price After the Decline: “It Should Never Fall Below This Level...” While these rising yields didn’t initially dampen the cryptocurrency rally, Bitcoin and other major digital assets reached record or multi-year highs in December before the market calmed down. Bitcoin, for example, is down more than 10% from its all-time high of $108,000 just three weeks ago, and several other major cryptocurrencies have seen steeper declines. One notable exception to this trend is China, where bond yields have fallen sharply amid growing deflationary concerns. According to The Kobeissi Letter, China is currently experiencing its longest period of deflation since 1999, a stark contrast to the inflation-driven yield increases seen elsewhere. *This is not investment advice. Continue Reading: Analyst Reveals the Event That Could Prevent Bitcoin and Altcoin Prices from Rising in the Near Future