Rising Treasury yields, triggered by falling bond prices on Tuesday, led to a nearly 2% decline in tech stocks on the Nasdaq Composite. Cryptocurrencies also experienced a downturn, with Ethereum falling nearly 8%, Ripple dropping by 6%, and Solana slumping by almost 10% in the 24-hour window. This was likely fueled by market enthusiasm surrounding the incoming pro-cryptocurrency Republican Congress, with US delegates for the 119th Congress taking their oaths of office on Monday.
The recent surge in US Treasury bond yields, driven by data indicating faster-than-expected economic growth in December, depressed prices for risk assets broadly. Cryptocurrencies like Bitcoin weren't the only high-risk/high-reward assets to fall, as the Nasdaq also lost more than 2.5% before the close of Wall Street markets. The anticipation for a continued rally, fueled by optimistic predictions for Bitcoin's price in 2025, has generally been bullish so far in January
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Crypto Market Boom: Bitcoin Soars to New Heights, Tether Surges, and Nasdaq Enters the CryptoverseThe cryptocurrency market is experiencing a remarkable surge in 2024, driven by ETF approvals, record-breaking prices, and the entry of major players into the market.
Källa: Utoday_en - 🏆 295. / 63 Läs mer »
Crypto Market Cap Slumped by $300 Billion Amid BTC, Altcoin Massacre: Market WatchCrypto Blog
Källa: Crypto_Potato - 🏆 568. / 51 Läs mer »