Cryptocurrency prices decline amidst selling wave and inflationary pressures.

Cryptocurrency prices saw a collective decline today, as the market faced a strong selling wave under the pressure of economic developments in the United States. The increase in U.S. Treasury yields has doubled concerns about inflation and decreased investor confidence.

According to data from the “CoinDesk” platform, Bitcoin fell by 0.85% to $66,913. In contrast, Ethereum dropped by 0.68% to $2,610, and Ripple decreased by 0.66% to 52.9 cents.

On the other hand, CNBC reported that the yield on the 10-year U.S. bonds rose to 4.2% on Tuesday, reaching its highest level since the end of July. This increase came despite the Federal Reserve’s decision to cut interest rates by 50 basis points, as Treasury yields continued to rise at almost the same rate.

Uncertainty in the cryptocurrency market is growing as the upcoming U.S. presidential elections approach. Speculations about the possibility of Donald Trump returning to the White House are impacting investor morale in the market, contributing to increased tensions and lower digital currency prices.