Rising Treasury Yields Put Pressure on Crypto Market

The crypto market is facing pressure as investors weigh the effects of rising U.S. Treasury yields.

Total crypto market capitalization now sits near $2.17 trillion, a figure that has slipped as capital continues to leave digital assets.

Crypto analyst Benjamin Cowen expects the U.S. 10-year Treasury yield to reclaim the 5% mark, which he believes could lead to a rate hike by the Federal Reserve.

This move would tighten the flow of money into riskier investments, including crypto, as investors seek safer assets in response to rising borrowing costs.