Flows Turn Negative to Start the Week, ENA Token Launches

Risk markets are experiencing a broad decline today, largely attributable to the surge in rates following the impressive PMI figures released yesterday. The US 10-year yield briefly reached 4.4%, marking its highest level since November. The crypto market was particularly affected in the early US hours today, with over $400 million in futures liquidations and BTC moving from nearly $70k to just below $65k. Following suit, the wider crypto market saw significant drops, with ETH descending to nearly $3200 and SOL N/A%  retreating to $176. With interest rates largely influencing current market dynamics, crypto-related equities are underperforming, with some miners down over 10%. There are few crypto assets that are managing to stay in the green today. Meanwhile, in traditional markets, major equity indices are also down substantially, with the QQQ falling by 1.1% and the S&P 500 by 0.9%.