According to Edward Dowd, today saw a significant risk-off sentiment across global markets, with notable declines in stocks, cryptocurrencies, and commodities. In contrast, longer-dated treasury bonds experienced a drop in yields and an increase in price, indicating a shift towards safer assets.

According to CryptoMichNL, the Consumer Price Index (CPI) came in lower than expected, which has increased the likelihood of rate cuts in September. This has caused the 2-year yields on Treasury bonds to fall to their lowest level since March 11th. Bitcoin, which peaked at $73K during that period, is currently trading at $58K due to recent sell-offs.