Bitcoin

This is not an isolated UK event; it mirrors the broader global bond sell-off driven by sticky inflation and hawkish central banks. For crypto, higher bond yields raise the opportunity cost of holding non-yielding assets and can trigger deleveraging in carry trades. Additionally, UK political instability may accelerate capital flight into dollar-denominated assets or gold, but Bitcoin's correlation with equities suggests it will initially suffer alongside risk assets.

UK borrowing costs (bond yields) rose to their highest level in 18 years amid investor uncertainty over the continuity of the Prime Minister's leadership.