Live updates: Yen rally and rising bond yields pressure bitcoin and risk assets
Bitcoin has dropped over 1% to just above $78,000, and gold has fallen 1% to $4,390 an ounce, while technology stocks are slightly lower. This decline in risk assets is occurring amidst a yen rally and rising global bond yields, with Brent crude approaching $100 a barrel and WTI crude nearing $95.
Why it matters
The article highlights significant shifts in global financial markets, indicating a potential move away from risk assets towards safer investments due to macroeconomic factors like rising bond yields and currency fluctuations, impacting investors and the broader economy.
Bitcoin has dropped more than 1% over the past 24 hours, hovering just above $78,000, while gold has fallen 1% to $4,390 an ounce. Technology stocks are also slightly lower in pre-market trading, with the Invesco QQQ down 0.16%.
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