The world of cryptocurrencies experienced a blow as Bitcoin’s value took a plunge, following the surge in the 10-year treasury yield. Traditionally, the financial markets perceive the rise in treasury yields as a sign of impending inflation. Such a sentiment tends to push investors to move towards assets deemed as ‘safe-heavens’ which ironically, proved detrimental to Bitcoin in this context. While the decentralized nature of Bitcoin often insulated it from conventional market dynamics, this occurrence emphasized the cryptomarket’s vulnerability to broader financial trends. Read More
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