The cryptocurrency market has been in a bull market since the end of 2024, but the trend of rising global government bond yields appears to have become impossible to ignore, according to analyst James Van Straten. The U.S. 10-year Treasury yield, seen as a benchmark for global standards, rose to 4.70 percent as of Wednesday, near a multi-year high, and has risen more than 100 basis points since the Federal Reserve first cut the federal funds rate in September. While the 30-year U.K. government bond yield rose to 5.35 percent on Wednesday, its highest level since 1998. The yield has risen 105 basis points since the Fed first cut rates in September.