Bitcoin just broke through the technical support level at 76,000.
There's virtually no support between the current level and the 70,000 mark. BIT: This breakout is significant because it marks the intersection of two levels: the
April-May 2025 correction low at $76,272 and the 21-week moving average.
Two macroeconomic risks are weighing on the market: uncertainty about the pace of data center investment and the Fed's hawkish policy, which maintains high rates. However, there's also a less visible signal. The outflow from stablecoins suggests that rising Treasury yields may be attracting capital from the crypto market back into fixed-income instruments.
There's virtually no support between the current level and the 70,000 mark. BIT: This breakout is significant because it marks the intersection of two levels: the
April-May 2025 correction low at $76,272 and the 21-week moving average.
Two macroeconomic risks are weighing on the market: uncertainty about the pace of data center investment and the Fed's hawkish policy, which maintains high rates. However, there's also a less visible signal. The outflow from stablecoins suggests that rising Treasury yields may be attracting capital from the crypto market back into fixed-income instruments.
