With the US10Y rising to a two-year high, novogratz sees no relief bounce for crypto and NDAQ
issued a bearish warning about cryptocurrencies and the tech-heavy Nasdaq Composite stock market index, claiming that they will remain under pressure as long as rates go higher.
Tens, bonds breaking down. As long as rates go higher we will see pressure on Nasdaq and crypto. 2% seems a logical target for tens.Bitcoin is the red this Tuesday, dipping to an intraday low of $41,650 earlier today. The flagship cryptocurrency is trading in line with the U.S. stock market. The S&P 500 and the Dow are down 1.7% and 1.6%, respectively, at the time of writing.
A Treasury sell-off appears to be the main culprit behind the ongoing stock market correction. The yield on the 10-year Treasury note, the most widely tracked rate, recently reached a two-year peak of 1.857%. Novogratz says that 2% seems like a logical target for him, which means that there could be more downside for cryptocurrencies.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kings of the Hill, Again: Greg Daniels, Mike Judge Discuss Their New Animation Company (Exclusive)Their company, Bandera, will exec produce ‘Bad Crimes,’ a comedy starring Nicole Byer and Lauren Lapkus, as its second show, with others — including a children’s show from Sacha Baron Cohen and Alison Bechdel’s ‘Dykes to Watch Out For,’ also in the works.
Read more »
Mike Tyson Says No Fight Negotiations W/ Jake Paul, 'New To Me'Mike Tyson says he is NOT fighting Jake Paul ... after a report earlier today said they were in 'advanced talks' for a $50 million boxing match.
Read more »
Mike Mayock Out as Raiders GM After Three SeasonsThe Las Vegas Raiders are moving on from general manager Mike Mayock after a tumultuous season came to an end on Saturday.
Read more »
Gov. Mike DeWine says he opposes critical race theory, supports teaching ugly parts of American historyDeWine is trying to straddle a middle ground – of supporting teaching unpleasant episodes of American history while at the same time acknowledging the fears of white conservatives. It’s untenable, one local law professor says.
Read more »
Mike Tyson Wonders How High Solana Price Can GoICYMI: boxing legend Mike Tyson wants to know how high the price of Solana could go SOL $SOL
Read more »
Mike Lindell claims Trump's election loss to Biden will be 'corrected' in 'God's timing'The MyPillow founder made the remarks at Trump's Arizona rally, where many speakers touted conspiracy theories about the 2020 election.
Read more »