According to news on January 8, according to The Block, Presto Research analyst Min Jung said that the market, including stocks, was weak due to macroeconomic concerns about continued inflation. Not only cryptocurrencies, the Nasdaq and S&P 500 both fell more than 1% yesterday, mainly due to ISM data showing that the U.S. economy grew faster than expected, triggering continued concerns about inflation, causing bond yields to surge, 10 years Treasury yields reached their highest level since April.