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The total cryptocurrency market capitalization fell 1.3%, the lowest level in two months

Total market value of the cryptocurrency market fell 1.3% to $1.097 trillion, the lowest level in two months. Additionally, its decline occurred simultaneously with the surge in US bond yields. On August 17th, the benchmark 10-year US Treasury yield climbed to 4.31%, the highest level since October 2022, indicating that investors are turning to safer assets rather than non-yielding cryptocurrencies like Bitcoin.

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