The last increase in US Treasury bonds seriously affected cryptocurrencies, despite this they are trading higher this Thursday and experts expect the increases to be consolidated.
Risk assets begin to recover.
Cryptocurrencies manage to break the downward trend and began to rise this Thursday, after suffering the strong rise in US Treasury bonds in the previous one. Bitcoin rises 1.8% in the last 24 hours and is trading at US$67,574.47. Ethereummeanwhile, fails to rebound and drops 1.6% to US$2,528.41.
Altcoins are also trying to rise like Bitcoin, the one that advances the most is Solarium (+4.5%) followed by TRON (+2.4%), and Doge Coin (+0.8%).
Strong rise in the US Treasury affected cryptocurrencies
The latest rise in US Treasury bonds seriously weighed down cryptocurrencies. 10-year yield hit July highs in response to the latest ‘hawkish’ or harsh-toned speeches from different members of the Federal Reserve (Fed), who advocated focusing andThe interest rate cut cycle more gradually and based on data. Gold, a traditional safe haven, also rose very strongly.
This endangered the prospects for two cuts in official rates in the two remaining meetings of the Fed for the remainder of the year. According to data from CME’s FedWatch tool, the analyst consensus assumes that the central bank will cut interest rates by 25 basis points (bp) in November, but the chances of a pause in the December conclave have more than increased. doubled in a week, until touching 30%.
Source: Ambito
