Summary
- It was reported that the rise in global bond yields increases the possibility of downward pressure on cryptocurrencies.
- The bond yields of the U.S., U.K., and Japan were reported to be either nearing or reaching record highs, showing strength.
- Despite the rise in bond yields, cryptocurrency prices, including Bitcoin, maintained strength, but there could be pressure in the future.
According to cryptocurrency-focused media CoinDesk on the 8th (local time), as global bond yields are on the rise, cryptocurrency prices may face downward pressure.
The media reported, "The U.S. 10-year Treasury yield rose to 4.7% today, nearing its peak, while the U.K. 30-year Treasury yield climbed to 5.35%, the highest since 1998."
It continued, "Japan's 10-year Treasury yield also reached 1.18%, the highest in 15 years," explaining that "despite the rise in bond yields, cryptocurrency prices, including Bitcoin (BTC), showed strength until the end of last year, but there is a possibility that cryptocurrency prices may face pressure in the future."
JH Kim
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