Analyst: Concerns about long-term inflation caused by macroeconomic data lead to a decline in BTC and ETH prices.

BlockBeats news, on January 8th, according to The Block, Presto Research analyst Min Jung said, ‘Due to macroeconomic concerns about persistent inflation, including the stock market, the market has been weak. Not only Cryptocurrency, but also the Nasdaq and S&P 500 indexes all fell more than 1% yesterday, mainly due to the ISM data showing that the US economy is rising faster than expected, which has raised concerns about sustained inflation and caused bond yields to soar, with the 10-year Treasury yield reaching its highest level since April.’ Rachael Lucas, a Cryptocurrency analyst at BTC Markets, pointed out, ‘The latest data on the US economy is causing traders to expect the Federal Reserve to maintain higher interest rate levels for a longer period of time. The market was previously unsettled by comments made by Federal Reserve Chairman Powell in December, which indicated the Federal Reserve’s firm stance on monetary policy and weakened market hopes for further rate cuts, thereby exacerbating fluctuations. Looking ahead, Trump’s inauguration ceremony on January 20th is expected to trigger market fluctuations as investors anticipate policy changes.’