Futures tied to the S&P 500 continue to signal risk-off, bolstering haven demand for bonds.
Futures tied to the S&P 500 continue to signal risk-off, bolstering haven demand for bonds.continued to lose ground Friday, falling below a key average as risk stayed on the defensive, driving Treasury yields to multi-month lows.
The leading cryptocurrency by market value fell below its 200-day simple moving average of around $107,500, extending losses to $106,900, CoinDesk data show. Prices were down 7% for the week, following the past week's 6.5% drop. Other tokens such as XRP, SOL and ETH also extended losses, taking their respective weekly declines to 9% to 12%.Futures tied to Wall Street's benchmark equity index, the S&P 500, fell nearly 1%. The index was dragged lower by banking shares on Thursday after Zions Bancorp and Western Alliance Bancorp disclosed links to fraud-linked loan exposure, stoking worries of a bigger fraud in the system. The risk-off catalyzed demand for bonds, driving the U.S. 10-year Treasury yield lower to 3.94%, the lowest since April. Bond prices and yields move in the opposite direction. Early this week, the Philadelphia Fed Manufacturing Index tanked 36 points to –12.8, indicating softening activity and triggering concerns about the economy. That also added to the demand for longer-dated Treasury notes.Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. The tone in risk markets soured again overnight as traders rotated back to stablecoins, avoiding bitcoin and smaller tokens ahead of key Federal Reserve and geopolitical catalysts.Ether and other major tokens like BNB, Solana, and XRP have lost most of their post-crash gains.1 hour ago
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