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"Global Bond Yield Rise May Exert Downward Pressure on Cryptocurrencies"

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JH Kim
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  • 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.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

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."

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reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.