#Bitcoin Falls Below 84,000
The 10-year U.S. Treasury yield surged to a 19-year high, and Bitcoin is trading around $83,200. Risk assets are moving in step with the pricing on the interest-rate end.
For those with resting limit orders, this round of pressure is not coming from the on-chain side, but from the macro picture: the probability of the Fed raising rates is about 75%, and the U.S. Treasury is set to conduct a $6 billion long-term bond repurchase. The repurchase may ease things for a moment, but if the rate-hike expectations don’t materialize, rebounds will lack support.
Outlook: If yields continue to rise, Bitcoin will find it hard to hold above $84,000.
$PENGU $ZEC $ARK
The 10-year U.S. Treasury yield surged to a 19-year high, and Bitcoin is trading around $83,200. Risk assets are moving in step with the pricing on the interest-rate end.
For those with resting limit orders, this round of pressure is not coming from the on-chain side, but from the macro picture: the probability of the Fed raising rates is about 75%, and the U.S. Treasury is set to conduct a $6 billion long-term bond repurchase. The repurchase may ease things for a moment, but if the rate-hike expectations don’t materialize, rebounds will lack support.
Outlook: If yields continue to rise, Bitcoin will find it hard to hold above $84,000.
$PENGU $ZEC $ARK
