According to The Kobeissi Letter, commercial mortgage-backed securities (CMBS) for office properties saw their delinquency rate rise to 10.3% in April 2025, approaching the all-time record and marking a 9 percentage point increase over the past three years (source: The Kobeissi Letter, May 7, 2025). This high delinquency rate signals intensifying stress in the commercial real estate sector, which could impact financial stability and risk sentiment across asset classes. For cryptocurrency traders, heightened concerns over commercial real estate may drive increased market volatility and a flight to alternative assets like Bitcoin and Ethereum, as investors seek safe-haven assets amid growing uncertainty in traditional markets.

According to The Kobeissi Letter, the delinquency rate on commercial mortgage-backed securities (CMBS) for office properties surged to 10.3% in April 2025, nearly matching the record high. This marks a 9 percentage point increase over the past three years, signaling deepening stress in the commercial real estate sector. For cryptocurrency traders, heightened defaults in CMBS markets can trigger broader financial instability and risk-off sentiment, historically leading to increased volatility and potential short-term downside in risk assets such as Bitcoin and Ethereum (source: The Kobeissi Letter, May 7, 2025).