Crypto Market Under Pressure from Rising Bond Yields

The crypto market is facing fresh challenges as macroeconomic signals from Japan and the US indicate rising inflation and economic uncertainty.

Bond yields in both countries have hit multi-decade highs, with Japan's 10-Year Bond Yield reaching 2.83% and the US 10-Year Yield climbing to 4.68%.

Historical data shows a consistent pattern between Japanese bond yields and Bitcoin performance, with rising yields often preceding declining crypto prices.

The correlation between the two has deepened to -0.14, its steepest negative reading yet, suggesting that further rises in bond yields could put additional pressure on the market.