Analysts: Bitcoin and Ethereum prices fell as macroeconomic data raised concerns about long-term inflation

On January 8th, according to The Block, Presto Research analyst Min Jung said that the market, including stocks, was weak due to macroeconomic concerns about persistent inflation. Not only cryptocurrencies, the Nasdaq and S & P 500 both fell by more than 1% yesterday, mainly due to ISM data showing that the US economy is growing faster than expected, triggering persistent concerns about inflation, causing bond yields to surge, and the 10-year Treasury yield reached its highest level since April.