Live markets: Bitcoin hangs near $77,000 as interest rates continue surge, stocks continue slump
CoinDesk
Bitcoin trades near $77,000 as soaring global bond yields pressure stocks and risk assets.Summary
Bitcoin is hovering near $77,000 while global financial markets face pressure from surging government bond yields. The 30-year U.S. Treasury yield reached its highest level since 2007 at 5.186%, accompanied by significant increases in 10-year and 2-year yields. These rising yields create a challenging environment for risk assets like cryptocurrencies and stocks, as safer government debt becomes more attractive to investors. Furthermore, rising borrowing costs are negatively impacting market sentiment, causing stocks to slump and bitcoin to retreat from its recent highs above $82,000.
(Source：CoinDesk)