The cryptocurrency market has been in a bull market since the end of 2024, but the increasing trend of global government bond yields seems to be hard to ignore. The 10-year US Treasury yield, which is regarded as the global benchmark, has risen to 4.70% as of Wednesday, close to a multi-year high. Since the Federal Reserve first lowered interest rates in September, the yield has pumped more than 100 basis points. The 30-year UK government bond yield rose to 5.35% on Wednesday, the highest level since 1998. Since the Fed's first rate cut in September, the yield has pumped 105 basis points.
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The cryptocurrency market has been in a bull market since the end of 2024, but the increasing trend of global government bond yields seems to be hard to ignore. The 10-year US Treasury yield, which is regarded as the global benchmark, has risen to 4.70% as of Wednesday, close to a multi-year high. Since the Federal Reserve first lowered interest rates in September, the yield has pumped more than 100 basis points. The 30-year UK government bond yield rose to 5.35% on Wednesday, the highest level since 1998. Since the Fed's first rate cut in September, the yield has pumped 105 basis points.