CandleFocus

Rate Fears Replace Tariff Fears as Crypto Pulls Back

Author: Content Editor
In response to President Trump's reversal of tariff threats towards Mexico, the stock market initially rebounded but quickly declined, with the Nasdaq dropping 2.3%. Bitcoin also experienced a slight pullback to $88,500. Meanwhile, interest rates in developed countries, such as Germany and Japan, have been rising, with the 10-year Bund yield jumping 40 basis points to 2.83% and the 10-year JGB yield rising 6 basis points to 1.51%. These rising interest rates have impacted US markets, causing the 10-year Treasury yield to increase more than 20 basis points in the last 48 hours. The upcoming release of the February US Nonfarm Payrolls Report is expected to have a significant impact on rates, with a strong employment report potentially leading to even higher rates and a decline in risk markets, including cryptocurrency.

Related News