Еженедельный обзор: криптовалюты снижаются вместе с акциями, поскольку доходность казначейских облигаций резко выросла

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Leading cryptocurrencies such as Bitcoin and Ethereum ended the week in the red as the stock market turned lower and Treasury yields jumped.

Bitcoin, the largest cryptocurrency by market capitalization, was down 3% and trading around $79,500 on the afternoon of May 15. BTC is down from a high of $82,000 in recent days and is leading the downturn in digital assets.

Other cryptocurrencies, including Ethereum, were down about 4% on the day. ETH was trading as low as $2,220 as the entire market fell from its recent highs. Analysts say risk assets such as stocks and crypto are selling off amid raised expectations for interest rate hikes.

The yield on the 30-year bond was up more than 10 basis points to yield 5.114%, its highest level since May 22 of last year. At the same time, the two-year Treasury note yield, which tends to react to short-term Federal Reserve rate decisions, was more than eight basis points higher at 4.075%.

The spike in Treasury yields comes after disappointing inflation data, and as traders look to new Federal Reserve Chair Kevin Warsh and the prospect of higher interest rates later this year.

Here’s what else happened with cryptocurrencies over the past week…

Gemini Stock Soars 25% On $100 Million Investment: The stock of Gemini
GEMI
jumped 25% on news that co-founders Tyler and Cameron Winklevoss have invested $100 million U.S. in the cryptocurrency exchange. The twin brothers injected the capital into Gemini through Winklevoss Capital Fund, their venture capital vehicle. The venture fund bought shares of the company’s Class A common stock at $14 U.S. each, paid in Bitcoin.

IREN Raises $3 Billion To Fund A.I. Expansion: IREN
IREN
has successfully raised $3 billion U.S. to fund its artificial intelligence (A.I.) cloud computing expansion. The Bitcoin miner turned A.I. data centre operator said that it closed a $3 billion U.S. convertible senior notes offering as it looks to buildout its cloud services. The notes carry a 1% coupon and mature in 2033.

Cerebras Stock Nearly Doubles In IPO: The stock of A.I. chipmaker Cerebras Systems nearly doubled in its market debut, opening at $350 U.S. per share after pricing shares at $185 U.S. Cerebras began trading on the Nasdaq
NDAQ
exchange May 14 under the ticker symbol “CBRS.” The chipmaker started trading with a market capitalization above $100 billion U.S. in what’s been called a “blockbuster” initial public offering (IPO).

Bullish Earnings Fall Short: The latest financial results of cryptocurrency exchange Bullish
BLSH
came up short as trading activity on its platform slowed in recent months. The company reported first-quarter revenue of $92.8 million U.S., which was below Wall Street estimates of $94.9 million U.S. Bullish also reported a net loss of -$3.85 U.S. per share compared with a loss of -$3.04 U.S. a share a year earlier.

Tokenized Treasuries Reach $15 Billion: Tokenized U.S. Treasuries have reached a record $15.35 billion U.S. in value locked as traders shift expectations to a Federal Reserve interest rate increase this year. The total value locked in tokenized Treasuries has surged to $15.35 billion U.S., topping the previous mid-April peak of $15.10 billion U.S., according to market data.

Leading Bitcoin Indicator Turns Positive: A leading Bitcoin indicator turned positive for the first time since March 2023. Bitcoin’s bull-bear cycle indicator turned green for the first time in three years on May 12, which signals that the cryptocurrency market’s structure is beginning to recover. Cryptoquant, which runs the indicator, says that when it moves out of bear territory and enters an early bull zone, it often suggests that the worst phase of a correction has passed.

BitMine Slows Ethereum Purchases: BitMine Immersion Technologies
BMNR
slowed its Ethereum purchases over the past week. The slowdown comes after months of aggressive buying that has propelled BitMine to become the world’s largest Ethereum treasury company. The firm led by Chairman Tom Lee bought 26,659 Ethereum over the past week, worth about $63 million U.S. That's a quarter of its average weekly purchases.

JPMorgan Files To Launch Tokenized Fund: JPMorgan Chase
JPM
, the world’s largest commercial bank, has filed with regulators to launch a new tokenized money market fund. This would be JPMorgan’s first tokenized fund and comes as major Wall Street firms move traditional assets onto blockchain rails. The fund, called JPMorgan OnChain Liquidity-Token Money Market Fund, will trade under the ticker symbol JLTXX.
source: https://www.tradingview.com/news/cryptoprowl:e9a25c3c0094b:0-weekly-wrap-crypto-falls-alongside-stocks-as-treasury-yields-spike/