Crypto Market Drops Amid Rising Yields and Geopolitical Risk

The crypto market experienced a significant decline, falling approximately 2% to a $2.30 trillion market cap.

This drop is largely attributed to the rising 10-year U.S. Treasury yields, which have been increasing and are now nearing 4.5%. This marks the highest level since July, putting pressure on risk assets like cryptocurrencies.

The increase in bond yields often leads to a decrease in demand for high-risk assets as investors opt for safer, interest-bearing investments instead.