Bitcoin price slides 5% after failing to break $60K — Here's why

Bitcoin price slides 5% after failing to break $60K — Here's why

BTC dropped below $56,000 on Sunday as several bearish signs emerged. The price of Bitcoin (BTC) dipped below $56,000 on March 21 after repeated rejections by the $60,000 resistance level throughout the past four days.BTC/USD 1-hour candle chart. Source: TradingviewDespite getting closer to cleanly breaching past the key technical level, Bitcoin has been showing weakness in the $59,000 to $60,500 range.There are three major reasons behind the stagnation: the rise in Treasury yields, bearish movements on Bitfinex, and the struggle of the risk-on market.High U.S. Treasury yields cause....


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