Bitcoin Back on the Defensive as Moderna CEO Warns of Reduced Vaccine Efficacy, Exchange Inflows Eyed

Posted on by American Coins & Gold

Bitcoin Back on the Defensive as Moderna CEO Warns of Reduced Vaccine Efficacy, Exchange Inflows Eyed
The financial market sentiment flipped back to risk-off on Tuesday after drugmaker Moderna’s CEO warned of a material drop in vaccine effectiveness against the new found COVID variant Omicron.Bitcoin slipped 2.5%, hitting lows of under $56,000, while the futures tied to the S&P 500 declined by 1.2%. The Aussie dollar-U.S. dollar (AUD/USD) exchange rate fell to a 12-month low of 0.7092, and the yield on the U.S. 10-year Treasury note penetrated Friday’s low of 1.47% as government bonds drew safe-haven demand.Stéphane Bancel, the CEO of Moderna, told Financial Times that current vaccines will likely be much less effective against the…