“Bitcoin’s soaring price to a remarkable 17-month high reflects the growing optimism surrounding the prospects of a cryptocurrency ETF, offering a potential game-changer for the digital currency market.”
Asia stocks fell on Tuesday, with Hong Kong’s Hang Seng index dropping 1.5% and China’s CSI 300 falling 0.4%. Japan’s Topix shed 0.8% and South Korea’s Kospi declined 0.5%. The decline was attributed to elevated US Treasury yields and continued conflict in the Middle East. The 10-year US Treasury yield fell back on Monday after rising above 5% for the first time in 16 years. The Bank of Japan also continued unscheduled purchases of government bonds in an attempt to control rising yields. China’s top diplomat, Wang Yi, is set to travel to the US to meet secretary of state Antony Blinken to discuss bilateral, regional, and global issues. In other news, UK ministers are being accused of betraying renters by delaying plans to end “no-fault” evictions, and nearly 7,000 union workers walked out of Stellantis’s biggest US truck plant as part of the United Auto Workers strike.